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Temporary cease trade order extended pending investigation, but restricted personal trading carve-out granted.
Staff of the Ontario Securities Commission sought to extend a temporary cease trade order against the respondent pending the completion of an investigation into potentially illegal distributions and market manipulation involving several companies.
The Commission found sufficient evidence of conduct potentially harmful to the public interest to justify extending the order.
However, the Commission granted the respondent a restricted personal trading carve-out, subject to strict reporting conditions, as the investigation was ongoing and no Statement of Allegations had yet been issued.
