News and resources for Canada's top financial advisors
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Industry
On Friday, the OSC held a pre-hearing conference regarding its case against Portus Alternative Asset Management.
By Staff |August 13, 2012
1 min read
Before crossing any regulatory lines, you should seriously consider how past mistakes can come back to bite you.
By Staff |August 3, 2012
2 min read
The OSC finds Shaun Gerard McErlean and Securus Capital breached the Ontario Securities Act by raising $14 million from eight offshore investors.
By Staff |July 23, 2012
On July 20, 2012, the OSC laid quasi-criminal charges against Abraham Herbert Grossman for operating a fraudulent fundraising scheme. Between October 2009 and February 2011, Grossman and the Strategic Gifting Group—a sole proprietorship he ran in Ontario—operated the scheme and also offered donor introduction share gifting of Dixon Perot & Champion securities, which involved four […]
Maitland Capital allegedly operated a boiler room scheme from two locations in Toronto; the company raised approximately $5.5 million through sales to 1200 investors. Two have been jailed, several disgorged and the company faces $1 million in fines.
By Staff |July 10, 2012
3 min read
The Ontario Securities Commission (OSC) is looking for members for its new ad hoc Exempt Market Advisory Committee (EMAC). On June 7, 2012, the OSC announced it plans to broaden the scope of its exempt market review. As part of the next phase of its review, OSC staff will: The new committee will inform staff […]
By Staff |June 11, 2012
OSC alleges David Charles Phillips, founder and directing mind of First Leaside Group, intentionally deceived investors by selling and overseeing securities sales of approximately $19 million in 2011, while withholding important information.
By Staff |June 5, 2012
An Ontario Securities Commission (OSC) panel has released its reasons for decision on sanctions and costs against Sextant Capital Management (SCM), Sextant Capital GP (SC), Otto Spork, Konstantinos Ekonomidis, and Natalie Spork (N. Spork). On May 17, 2011, an OSC panel found Spork, SCM and SC committed fraud contrary to the Securities Act. The panel […]
Jitney preferencing, comparable to circular trading, impedes fair marketplace access and should not be facilitated, says the Ontario Securities Commission. A jitney order refers to the execution and clearing of orders by one member of a stock exchange for the account of another member. For example, a small investment dealer that can’t support a trader […]
May 17, 2012
Two people charged with one count each of engaging in fraud against persons or companies to whom they traded securities.
By Staff |April 5, 2012
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