IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5 AS AMENDED
- AND -
NORTH AMERICAN FINANCIAL GROUP INC., NORTH AMERICAN CAPITAL
INC., ALEXANDER FLAVIO ARCONTI, AND LUIGINO ARCONTI
NOTICE OF HEARING
(Sections 127(7) and 127(8))
WHEREAS on the 10th day of November, 2010, the Ontario Securities Commission (the “Commission”) ordered:
- Pursuant to clause 2 of subsection 127(1) of the Act that all trading in the securities of NAFG and NAC shall cease;
- Pursuant to clause 2 of subsection 127(1) of the Act that NAFG, NAC, Flavio and Gino cease trading in all securities; and
- Pursuant to clause 3 of subsection 127(1) of the Act that any exemptions contained in Ontario securities law do not apply to NAFG, NAC, Flavio or Gino;
(the “Temporary Order”);
AND WHEREAS the Commission further ordered as part of the Temporary Order that pursuant to subsection 127(6) of the Act, the Temporary Order shall take effect immediately and shall expire on the fifteenth day after its making unless extended by the Commission;
TAKE NOTICE that the Commission will hold a hearing pursuant to subsection 127(7) and 127(8) of the Act at its offices at 20 Queen Street West, Toronto, 17th floor, Hearing Room B on Tuesday, the 23rd day of November, 2010 at 2:00 p.m. or as soon thereafter as the hearing can be held:
TO CONSIDER whether, pursuant to subsections 127(7) and 127(8) of the Act, it is in the public interest for the Commission to:
- extend the Temporary Order until the conclusion of this hearing in this matter pursuant to subsection 127(7) of the Act or until such other time as ordered by the Commission; and
- to make such further orders as the Commission considers appropriate.
BY REASON of the facts cited in the Temporary Order and such further additional allegations as counsel may advise and the Commission may permit;
AND TAKE FUTHER NOTICE that any party to the proceeding may be represented at the hearing;
AND TAKE FUTHER NOTICE that upon failure of any party to attend at the time and place set out in this Notice of Hearing, the hearing my proceed in the absence of that party, and such party is not entitled to any further notice of the proceeding.
DATED at Toronto, this 10th day of November, 2010.