Wednesday, September 2nd14.0°C
27215
26758

Fairfax's Prem Watsa faces probe from Quebec regulator over insider trading

TORONTO - Billionaire investor Prem Watsa is facing an investigation by Quebec's securities regulator over possible insider trading or tipping.

Fairfax Financial (TSX:FFX) disclosed the information in filings for its latest financial results.

The investigation involves Watsa, who owns the investment firm, and the company's president Paul Rivett.

Insider trading happens when an individual has access to confidential information and then uses it to trade on a stock exchange. Tipping involves passing on insider information to a second party who then trades on the knowledge.

Watsa briefly addressed the investigation on Fairfax's conference call Friday morning, saying there was no personal trading involved and that he and Rivette are confident they did nothing wrong.

Fairfax is an insurance and investment company that is involved in a variety of areas, including property and casualty insurance. It also has a stake in smartphone company BlackBerry (TSX:BB).

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX13545.25+63.35
S&P CDNX550.05+2.08
DJIA16351.38+293.03
Nasdaq4749.98+113.87
S&P 5001948.86+35.01
CDN Dollar0.7539+0.0002
Gold1130.40-2.10
Oil46.20-0.05
Lumber235.10+1.10
Natural Gas2.642-0.006

 
Okanagan Companies
Pacific Safety0.22+0.05
Knighthawk0.010.00
QHR Technologies Inc1.19+0.01
Cantex0.04-0.01
Anavex Life Sciences1.25-0.07
Metalex Ventures0.055+0.005
Russel Metals20.87-0.34
Copper Mountain Mining0.61-0.01
Colorado Resources0.075-0.010
ReliaBrand Inc0.0045+0.0005
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.08-0.01
Decisive Dividend Corp2.62+0.12

 



27504

FEATURED Property
2268312205-130 Barber Road
2 bedrooms 2 baths
$236,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Agree to ask questions

Photo: Thinkstock.comThe STORY: I think, said Janet to herself, that I just figured out a solution to my problem of letting the prospect run the meeting.With that thought in mind, she got out of her c...


Your business is not a bank

Photo: Thinkstock.comYour plumbing business is not a bank. But when you are giving terms to customers that exceed what you get from your suppliers, you become one. And every time that someone does not...


Begin with the end in mind

Photo: ContributedWe humans love our dates: birthdays, anniversaries, 9/11, the Ides of March - our lives are intimately woven within the tapestry of the calendar. So it should come as no surprise whe...

_








Member of BC Press Council


25143