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Canadian Securities Regulatory Monitor News and Insight

Tag Archives: Masonite

Insider Trading Decision Provides Guidance to Assess Tippee’s Knowledge About Tipper’s Source of Information

Posted in Enforcement, Jurisprudence, OSC

In the Finkelstein v. Ontario Securities Commission[1] insider trading case, the Ontario Court of Appeal provided guidance on the interpretation of a “person in a special relationship with an issuer” as it applies to successive tippees who possess material, non-public information (MNPI) about an issuer.

OSC’s 2015 Findings

For a detailed summary of the 2015 decision of the Ontario Securities Commission (OSC), please see here. In brief, the OSC Panel found that, in connection with three separate M&A transactions between 2004 to 2007, a lawyer tipped his friend (Azeff), an investment advisor, … Continue Reading