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Settlement agreement approved for insider trading and reporting failures under the Securities Act.
The Ontario Securities Commission approved a settlement agreement with the respondent.
The respondent acknowledged engaging in insider trading contrary to s. 76(1) of the Securities Act, failing to file required insider reports under s. 107, and failing to correct a Management Information Circular that incorrectly stated his share ownership.
The Commission found the sanctions, which included a reprimand, fairly reflected the gravity of the conduct and approved the settlement as being in the public interest.
