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Insider trading and the balance of probabilities

Thursday, January 28, 2016 @ 7:00 PM | By Karen Rogers

The Ontario Securities Commission rendered an important decision regarding insider trading and tipping under the Ontario Securities Act on March 24, 2015.

In the matter of Paul Azeff, Korin Bobrow, Mitchell Finkelstein, Howard Jeffrey Miller and Man Kin Cheng (a.k.a. Francis Cheng) [2015] LNONOSC 142, the OSC found that mergers and acquisitions lawyer Mitchell Finkelstein and four investment advisors had engaged in insider trading or tipping with respect to three reporting issuers, all in violation of the Act.

The matter was tried before the OSC, where...