Wednesday, August 20th18.2°C
22568
22642

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

21097


Recent Trending




Today's Market
S&P TSX15561.95+84.78
S&P CDNX996.70-0.86
DJIA16979.1359.54
Nasdaq4526.482-1.032
S&P 5001986.51+4.91
CDN Dollar0.9108-0.0007
Gold1285.00-8.40
Oil96.30+1.82
Lumber356.30+1.30
Natural Gas3.857+0.034

 
Okanagan Companies
Pacific Safety0.18-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.21+0.01
Cantex0.065-0.005
Anavex Life Sciences0.260.00
Metalex Ventures0.0850.00
Russel Metals37.45+0.23
Copper Mountain Mining2.92+0.15
Colorado Resources0.185+0.015
ReliaBrand Inc0.085+0.008
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.23+0.03

 



21097

FEATURED Property
1982482401 - 1160 Sunset Drive
2 bedrooms 2 baths
$569,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Cost of an Injury Lawyer

Let’s face it; nobody wants to pay for legal services if they do not have to, but if you have been injured in an accident you may have thought about hiring a lawyer to help you navigate your cla...


Going home to a bully!

Finally, after three months in New Brunswick, I am back home in the sunny Okanagan. It is a delight to be home and the lake, vistas, people and climate never disappoint. Like many people however, I...


Managing a business in 40 hours a week

My screen printing business, like many others, started as a one-man operation. It was located in a small building, not much better than a shack, with a telephone, a big table where I ate lunch and (oc...

_








Member of BC Press Council


22771