Canada:
$400,000 Profit From Insider Trading Nets Analyst A $750,000 Administrative Penalty And A Permanent Ban From The OSC
17 September 2013
Lerners LLP
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In an interview in which he was asked for his thoughts about
financial and professional sanctions imposed by the Ontario
Securities Commission in a recent illegal insider trading case,
securities litigator Bill Pepall noted that it demonstrates how
seriously regulators are taking insider trading cases, even when
only small amounts of money are involved. He also points out
that in addition to these severe regulatory penalties, insiders
engaged in prohibited trading or tipping are also at risk of
additional civil liability, a risk that is discussed less often in
the industry.
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