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The OSC estimates investors lost $2.1-million (U.S.) in the scheme.
The OSC estimates investors lost $2.1-million (U.S.) in the scheme.
(Peter Power/The Globe and Mail)

Why Alberta regulator declined to reciprocate OSC sanctions

Provincial securities commissions rubber stamp “reciprocal” orders with each other routinely, agreeing to impose sanctions on wrongdoers in their province after cases have concluded in another lead province. It’s usually just a matter of asking.

And then there’s the case of Bruce Moore, a former investment banker who reached a settlement with the Ontario Securities Commission last April, agreeing he had improperly traded shares through offshore accounts using confidential information he gleaned from his work at Canadian Imperial Bank of Commerce. The OSC imposed a 15-year ban on working as a registrant in the securities industry and a 10-year ban on trading shares of public companies.