Order: In the Matter of Hillcorp International Services et al.

Order




IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5 AS AMENDED

- and -

IN THE MATTER OF

HILLCORP INTERNATIONAL SERVICES,
HILLCORP WEALTH MANAGEMENT, SUNCORP HOLDINGS,
1621852 ONTARIO LIMITED, STEVEN JOHN HILL,
DARYL RENNEBERG and DANNY DE MELO

ORDER
Sections 127(1), 127(7) and 127(8)



WHEREAS on July 21, 2009 the Ontario Securities Commission (the “Commission”) issued a temporary cease trade order (the “Temporary Order”) and on July 24, 2009 issued an amended temporary cease trade order (the “Amended Order”) pursuant to subsections 127(1) and 127(5) of the Securities Act, R.S.O. 1990 c S-5, as amended (the “Act”) ordering the following:

  1. that all trading in any securities by 1621852 Ontario Limited (“162 Ontario”), Hillcorp International Services (“Hillcorp International”), Hillcorp Wealth Management (“Hillcorp Wealth”), Suncorp Holdings or their agents or employees shall cease;
  2. that all trading in any securities by Steven John Hill (“Hill”), John C. McArthur (“McArthur”), Daryl Renneberg (“Renneberg”) and Danny De Melo (“De Melo”) shall cease;
  3. that the exemptions contained in Ontario securities law do not apply to 162 Limited, Hillcorp International, Hillcorp Wealth, Suncorp Holdings or their agents or employees; and
  4. that the exemptions contained in Ontario securities law do not apply to Hill, McArthur, Renneberg and De Melo;

AND WHEREAS on July 21, 2009 the Commission ordered that the Temporary Order shall expire on the 15th day after its making unless extended by the Commission and on July 24, 2009 the Commission ordered that the Amended Order shall expire on August 5, 2009;

AND WHEREAS on July 21, 2009 the Commission issued a Notice of Hearing to consider, among other things, the extension of the Temporary Order, to be held on August 5, 2009 (the “Notice of Hearing”);

AND WHEREAS on July 24, 2009 the Commission issued an amended Notice of Hearing to consider, among other things, the extension of the Amended Order, to be held on August 5, 2009 (the “Amended Notice of Hearing”);

AND WHEREAS the Commission ordered on August 5, 2009 that the Amended Order was extended until February 8, 2010 on certain terms set out in that Order that the hearing was adjourned to February 5, 2010 at 10:00 am;

AND WHEREAS the Commission ordered on February 5, 2010 that the Amended Order was extended against 162 Ontario, Hillcorp International, Hillcorp Wealth, Suncorp Holdings, Hill and De Melo until July 12, 2010 and against Renneberg until March 31, 2010;

AND WHEREAS Staff of the Commission (“Staff”) request a further order continuing the Amended Order against Renneberg;

AND WHEREAS Renneberg consents to an order continuing the Amended Order;

AND WHEREAS the Commission reviewed the written consent of Renneberg;

AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;

IT IS HEREBY ORDERED pursuant to subsections 127(7) and 127(8) of the Act that the Amended Order is extended against Renneberg to April 30, 2010 and specifically:

  1. that all trading in any securities by Renneberg shall cease; and
  2. that the exemptions contained in Ontario securities law do not apply to Renneberg;
  3. with the exception that Renneberg may trade in certain securities for his own account or for the account of his registered retirement savings plan or registered retirement income fund (as defined in the Income Tax Act (Canada)) in which he has sole legal or beneficial ownership, provided that:
    • the securities consist only of securities that are listed and posted for trading on the Toronto Stock Exchange or the New York Stock Exchange (or their successor exchanges) or are issued by a mutual fund which is a reporting issuer;
    • Renneberg submits to Staff, at least five business days prior to the first trade made under this Order, a detailed written statement showing his direct or indirect legal or beneficial ownership of or control or direction over all securities referred to in paragraph (a), as of the date of this Order;
    • Renneberg does not have direct or indirect legal or beneficial ownership of or control or direction over more than one per cent of the outstanding securities of the class or series of the class in question;
    • Renneberg must trade only through a registered dealer and through accounts opened in his name only and must immediately close any trading accounts that were not opened in his name only; and
    • Renneberg must submit standing instructions to each registrant with whom he has an account, or through or with whom he trades any securities, directing that copies of all trade confirmations and monthly account statements be forwarded directly to Staff at the same time such documents are sent to Renneberg, and Renneberg must ensure that such instructions are complied with.

Dated at Toronto this 30th day of March, 2010

 

 

" Carol S. Perry "