Monday, May 25th20.3°C
26383
25263

Ontario regulator wraps up proceedings against Conrad Black, decision in months

TORONTO - Two days of proceedings held by the Ontario Securities Commission on whether to hold hearings to impose regulatory sanctions against Conrad Black wrapped up on Friday.

A decision on the proceedings, which will determine if Black is banned from participating in Ontario's capital markets, will be released "in the coming months," OSC spokeswoman Aly Vitunski said in an email.

Allegations from the provincial regulator say that directors and officers of Hollinger Inc. and Hollinger International engaged in "a scheme'' to line their pockets with company proceeds through a system of non-competition payments.

The OSC wants to determine whether Black and two other executives should be banned from trading securities or becoming directors of public companies, to protect other investors in the province.

Black's lawyers say there is no need for such an order because Black has been barred from being a registrant or a director or officer of a reporting issuer in Ontario by an OSC order that's been in place for about eight years. It will continue to be in effect until Black makes a request to have it lifted, or the commission decides to remove the restrictions.

Lawyer Peter Howard, who represents Black, has asked for the case to be dismissed, saying that any further hearings are "unnecessary" and "constitute abuse of process.''

The Canadian Press


Read more Business News

25538


Recent Trending




Today's Market
S&P TSX15187.40-13.36
S&P CDNX700.09-3.39
DJIA18232.02-53.72
Nasdaq5089.36-1.43
S&P 5002126.06-4.76
CDN Dollar0.8120-0.0013
Gold1204.30+1.30
Oil60.67-0.74
Lumber273.80+3.70
Natural Gas2.887-0.064

 
Okanagan Companies
Pacific Safety0.14+0.01
Knighthawk0.010.00
QHR Technologies Inc1.49+0.01
Cantex0.03-0.01
Anavex Life Sciences0.425+0.053
Metalex Ventures0.08-0.01
Russel Metals25.83+0.04
Copper Mountain Mining1.33-0.05
Colorado Resources0.105+0.005
ReliaBrand Inc0.0048-0.0049
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.17-0.00
Decisive Dividend Corporation2.20+0.60

 



26341

FEATURED Property
21776042670 Pandosy Street
$219,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Cash stressed seniors

Photo: Thinkstock.comFor many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the hidden value of their...


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...

_



25482




Member of BC Press Council


25479