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ARTICLE · 10 NOVEMBER 2005

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Borden Ladner Gervais LLP
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In August, we reported Andrew Rankin’s conviction on ten counts of tipping under subsection 76(1) of the Securities Act. On October 27, 2005, Justice Khawly sentenced Rankin to six months in jail on each of the ten counts, to be served concurrently.

CanadaLitigation, Mediation & Arbitration
Kara Beitel
Kara Beitel
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Originally published November 2005

THE COURTS

In August, we reported Andrew Rankin’s conviction on ten counts of tipping under subsection 76(1) of the Securities Act. On October 27, 2005, Justice Khawly sentenced Rankin to six months in jail on each of the ten counts, to be served concurrently. OSC staff was seeking a prison sentence of between three and five years. Counsel for Rankin argued that he should receive a suspended sentence.

REGULATORY

On October 14, 2005, the Ontario Securities Commission (the "Commission" or "OSC") released its decision in ATI Technologies Inc., et al. At issue was whether former ATI Technologies ("ATI") chief executive officer, K.Y. Ho, and his wife, Betty Ho, traded their shares of ATI with knowledge that ATI would not meet its third quarter forecasts contrary to subsection 76(1) of the Securities Act (the "Act"). The Commission found that OSC staff had not met their burden of establishing, by clear and convincing proof based on cogent evidence,

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