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The OSC has alleged the Ernst & Young audit of China’s Zungui Haixi was not in accordance with generally accepted auditing standards.
The OSC has alleged the Ernst & Young audit of China’s Zungui Haixi was not in accordance with generally accepted auditing standards.
(Peter Power/The Globe and Mail)

Regulator raises questions about Aequitas exchange proposal

The Ontario Securities Commission has some serious questions about a plan to create a new exchange in Canada designed to eliminate what its proponents say are pernicious practices of high frequency traders.

The planned exchange, known as Aequitas, has some powerful backers. Proponents include Royal Bank of Canada and the mutual fund giant IGM Financial.