Global Autotrading Inc. and Jimmy Talbot – s. 144(1)

Headnote

Application under section 144 of the Securities Act (Ontario) (Act) to further vary a temporary order exempting the Filer from the requirements of paragraph 25(3) of the Act subject to certain conditions, for investment advice provided to persons or entities who are resident in the United States with respect to securities of U.S. issuers.

Applicable Legislative Provisions

Securities Act, R.S.O. 1990, c. S.5, as am., ss. 25(3), 144.

December 16, 2014

IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, CHAPTER S.5, AS AMENDED
(the Act)

AND

IN THE MATTER OF
GLOBAL AUTOTRADING INC. (the Filer)
AND JIMMY TALBOT

VARIATION ORDER
(Subsection 144(1) of the Act)

                WHEREAS the Ontario Securities Commission (Commission) issued an order (Previous Relief) dated December 20, 2013 pursuant to section 74(1) of the Act for an exemption from the adviser registration requirement in section 25(3) of the Act;

                AND WHEREAS the Commission has received an application from the Filer pursuant to section 144 of the Act requesting that the Commission vary the Previous Relief to extend the termination date of the Previous Relief from December 20, 2014 to December 31, 2015;

                AND WHEREAS the Commission has been advised that the Filer continues to work with staff of the Commission to register the Filer under a category set out in National Instrument 31-103 – Registration Requirements, Exemptions and Ongoing Registrants such that the Previous Relief would not be required;

                AND WHEREAS the Commission has determined that it is not prejudicial to the public interest to issue this order that varies the Previous Relief in the manner contemplated above;

                IT IS ORDERED pursuant to section 144 of the Act, that the Previous Relief, be varied by replacing “the Exemption Sought shall terminate on the date that is one year after the date of this decision” to “the Exemption Sought shall terminate on December 31, 2015”.

“Sarah B. Kavanagh”
Commissioner
Ontario Securities Commission

“Catherine Bateman”
Commissioner
Ontario Securities Commission