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Regulators appeal for tips on abusive trading

By The IJ Staff | October 02 2020 01:30PM

Photo: Freepik

The Ontario Securities Commission (OSC) and the Investment Industry Regulatory Organization of Canada (IIROC) are appealing to the public to submit tips on potential abusive trading in securities of Ontario reporting issuers.

Such abusive trading includes illegal insider trading, market manipulation or abusive short selling, state the regulators.

The OSC and IIROC released joint whistleblower guidance Oct. 1 stating they “have reason to believe that certain market participants may be engaged in abusive short selling practices.”

The regulators state that “anyone with first-hand knowledge or other specific and credible evidence about short selling into or ahead of public offerings or private placements of Ontario securities is strongly encouraged to submit a tip.”

Those who provide information to the OSC Whistleblower Program may be eligible for awards of up to $5 million for tips that lead to an OSC enforcement action. To learn more about the OSC's Whistleblower Program, including how to submit a tip, click here. To learn more about IIROC's Whistleblower program, click here.

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