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Settlement approved imposing a $600,000 penalty for unauthorized access to confidential alternative trading system information.
The applicant and the respondent sought approval of a settlement agreement regarding allegations that the respondent maintained inadequate controls over marketplace participants' confidential order and trade information, contrary to National Instrument 21-101.
The respondent self-identified the issue but initially failed to promptly advise the regulator of the true nature of the problem.
The Tribunal approved the settlement, finding the agreed sanctions—including a $600,000 administrative penalty, $75,000 in costs, a reprimand, and an independent external review—to be within a reasonable range and in the public interest.
