REGARDING the Loan and Trust Corporations Act, R.S.O.1990, c.L.25, as amended (the "Act"), in particular, sections192(1), 192(3), 206, 208, 213,214
AND REGARDING Daniel P.Reeve, Millionaire Mortgage Inc., and DPR Financial Inc.
CEASE AND DESIST ORDER
Section 192 of the Act provides that where, in the opinion of the Superintendent of Financial Services (the "Superintendent"), a registered corporation or other person is committing any act or pursuing any course of conduct that does not comply with the Act or the regulations, or might reasonably be expected, if continued, to result in a state of affairs that would not be in compliance with the Act or the regulations, or constitutes a practice which might prejudice or adversely affect the interests of depositors, the Superintendent may make a Temporary Order ordering the registered corporation or other person to cease doing any act or to cease pursuing any course of conduct identified by the Superintendent, or to perform such acts as in the opinion of the Superintendent are necessary to remedy the situation.
The Superintendent issued a Temporary Order under section 192(3) of the Act, which was served on Daniel P.Reeve, Millionaire Mortgage Inc., and DPR Financial Inc. on May 14, 2009. There has been no request for a hearing, and in accordance with section 192(3) of the Act, the Temporary Order became permanent on May29, 2009.
The Superintendent confirms that the Temporary Order dated May 13, 2009 (attached) is a permanent order as of May 29, 2009.
DATED at Toronto, Ontario June 4, 2009.
Superintendent of Financial Services