An OSC Panel has released its reasons and decision in the matter of Paul Donald, a former RIM officer and employee. Staff alleged Donald engaged in insider trading while at RIM, by purchasing securities of Certicom while in possession of material, undisclosed information, and while in a relationship with the company. It also says Donald […]
Before crossing any regulatory lines, you should seriously consider how past mistakes can come back to bite you.
To date, Canada’s provincial regulators have failed to find common ground and form a national committee. The ASC, however, has found a partner south of the border to help strengthen its fight against international white-collar crime.
The OSC finds Shaun Gerard McErlean and Securus Capital breached the Ontario Securities Act by raising $14 million from eight offshore investors.
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 […]
Authorities had a hectic day. They dealt some hefty penalties to several associates for fraudulent activity. Here’s our roundup of the scammers and scoundrels. 3 B.C. men illegally traded securities A British Columbia Securities Commission panel has found three B.C. men, along with a parking technology company, illegally distributed securities. They raised approximately $3.5 million […]
Following an expedited hearing held today, an IIROC hearing panel ordered Peregrine's membership suspended.
In 2002, HSBC purchased Grupo Financiero Bital—a Mexican lender lacking a compliance department at the time. Five years later, the head of the British giant’s Latin America compliance department, voiced his frustration and concerns about the Mexico unit overseeing the acquired company’s activities, reports Financial Times. Read: HSBC in talks to sell Latin American units, […]
Russell Wasendorf Sr, chief executive of Peregrine Financial Group, was arrested by U.S. authorities today and faces criminal charges, reports Financial Times. The Peregrine founder allegedly created and used false statements to deceive federal regulators. His arrest comes days after he attempted suicide; regulators had discovered Peregrine had a shortfall of $215m in its customer […]
Of 500 senior professionals questioned last month, 30% in the U.K. and 22% in the U.S. say they’ve witnessed or had first-hand knowledge of wrongdoing at their company, says a report by U.S. firm Labaton Sucharow LLP. But, many neglect to or are afraid to report it. Also, almost half (40%) of respondents suspect their […]