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ARTICLE · 22 JUNE 2015

The Finkelstein Case Demystified

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Further to an adjournment on May 21, 2015, former lawyer Mitchell Finkelstein and four investment advisors have been summoned to a June 17, 2015 sentencing hearing before the Ontario Securities Commission.

CanadaCorporate/Commercial Law
Langlois Lawyers LLP
Langlois Lawyers LLP
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Further to an adjournment on May 21, 2015, former lawyer Mitchell Finkelstein and four investment advisors have been summoned to a June 17, 2015 sentencing hearing before the Ontario Securities Commission (the "OSC").

The summons is further to the decision rendered by the OSC last March, by which these individuals were found to have violated Ontario's Securities Act for having engaged in illegal insider trading or "tipping" with respect to three reporting issuers.

This decision is the most recent in Canada relating to insider trading. It reflects the overall strategy of North American securities regulators to proactively target individuals illegally using insider information regarding an issuer, either by engaging in insider trading or by "tipping" someone else for that purpose.

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