Ontario Securities Commission
Citation: Bluestream Capital Corporation et al., 2015 ONSEC 6
Date: 2015-03-04
IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED
AND
IN THE MATTER OF BLUESTREAM CAPITAL CORPORATION, BLUESTREAM INTERNATIONAL INVESTMENTS INC., KROWN CONSULTING CORP., 1859585 ONTARIO LTD. (operating as SOVEREIGN INTERNATIONAL INVESTMENTS) and PETER BALAZS
REASONS AND DECISION (SECTIONS 127 & 127.1)
Hearing: In writing
Decision: March 4, 2015
Panel: Alan J. Lenczner - Commissioner and Chair of the Panel
Submissions by: Christie Johnson - For the Ontario Securities Commission
TABLE OF CONTENTS
I. OVERVIEW A. The Nature of the Hearing B. Allegations Made by Staff of the Commission C. Overview of the Evidence II. ANALYSIS AND DECISION A. The Commission’s Public Interest Jurisdiction B. Standard of Proof III. UNREGISTERED TRADING IN SECURITIES A. Importance of Registration in the Regulatory Context B. Section 25: Prior to September 28, 2009 C. Section 25: On and After September 28, 2009 D. Definition of “Trade”
- Investment Contract Supreme Court of Canada’s Decision in Pacific Coast Coin E. Acts in Furtherance of a Trade IV. DISTRIBUTING SECURITIES WITHOUT A PROSPECTUS V. FRAUD VI. AUTHORIZE, PERMIT OR ACQUIESCE A. “Director” and “Officer” Defined VII. RELIANCE ON LEGAL ADVICE RELEVANT TO SANCTIONS VIII. CONCLUSION
I. OVERVIEW
A. The Nature of the Hearing
1This is a hearing before the Ontario Securities Commission (the “Commission”) pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) to determine whether it is in the public interest to make an Order against