The Ontario Divisional Court upheld the finding of insider trading against the head institutional trader and part owner of Yorkton Securities Inc. (“Donnini”) made by the Ontario Securities Commission (“OSC”). The court reduced the trading suspension imposed by the OSC from 15 years to 4 years and directed that the matter of costs, which had been assessed by the OSC at $186,052.30, be referred back to the OSC to conduct an inquiry into the extent of the bill in order to substantiate the amount.
Administrative law – Stock brokers – Disciplinary proceedings – Suspensions – Decisions of administrative tribunals – Securities Commission – Penalties – Judicial review – Costs Donnini v. Ontario Securities Commission, [2003] O.J. No. 3541, Ontario Superior Court of Justice – Divisional Court, September 15, 2003, Lane, Somers and Greer JJ. On June 11, 2002, two of the members ...