The respondent, a former CEO and Ultimate Designated Person of a registered firm, made materially misleading statements under oath to Commission Staff during an investigation into the misuse of insider information.
Staff and the respondent reached a settlement agreement which included a $125,000 administrative penalty, $10,000 in costs, and a two-year ban from participating in the capital markets.
The Commission approved the settlement agreement, finding that the respondent's conduct constituted a serious breach of Ontario securities law and that the agreed sanctions fell within the range of reasonable outcomes and were in the public interest.
