Misuse of confidential information: OSC

first_img Keywords Insider tradingCompanies Ontario Securities Commission James Langton SEC alleges man sold insider trading tips on dark web Share this article and your comments with peers on social media An Ontario man has agreed to give up about half his trading profits to settle allegations that he traded on inside information about a pending corporate acquisition. The Ontario Securities Commission (OSC) announced a settlement Tuesday with Anand Hariharan, a Mississauga, Ont.-based aircraft maintenance engineer, who bought options on the stock of Loral Space & Communications Inc. based on a tip from a close childhood friend, Satish Talawdekar, concerning the pending acquisition of Loral’s major subsidiary by MacDonald, Dettwiler & Associates Inc., where Talawdekar worked. Related newscenter_img ASIC ready to make deals with devils Facebook LinkedIn Twitter According to the settlement, trading on the tip netted Hariharan a profit of US$68,683. The settlement notes that, while the trading “did not technically contravene” securities laws, because Loral was not a reporting issuer in Ontario, “his conduct impugned the integrity and fairness of the capital markets because of the misuse of material, confidential information.” As a result, the settlement concludes that Hariharan’s conduct was contrary to the public interest. To settle the allegations, Hariharan agrees to make a voluntary payment of $35,000 to the commission, and to pay $5,000 in costs. He also agrees to a 10-year ban from trading, except for certain trading in his retirement accounts; and a 10-year registration ban. FINRA bans analyst for insider tradinglast_img read more

PPF splits CEE networks from retail operations

first_img Yanitsa joins Mobile World Live as a Reporter based in London. She has more than 5 years’ experience at various media outlets in her home country Bulgaria. She started her career as a political reporter, followed by taking editor roles… Read more Telenor, Axiata plot Malaysian merger PPF Telecom Group split the retail and infrastructure operations at its Telenor-branded mobile operations in Bulgaria, Hungary and Serbia, shifting network activities into a new company to increase efficiency across Central and Eastern Europe (CEE).It said the newly established CETIN Group will consist of an existing unit in the Czech Republic, along with divisions from the three other nations. The group will manage PPF Telecom Group’s “telecommunication infrastructure backbone”, with a view to improving “voice, data, TV, video, IT, and cybersecurity services”.The retail arm will focus on service propositions and customer management.PPF Telecom Group expects the moves to deliver “greater opportunities across CEE”, citing a move in the Czech Republic in 2015 as an example.Jan Kadanik, former head of Switzerland-based agribusiness company Ameropa, was appointed chairman of CETIN Group’s board, with the Czech unit’s chair Juraj Sedivy also appointed as a member. Subscribe to our daily newsletter Back Tags Author Yanitsa Boyadzhieva AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 03 JUL 2020 Related PPF GroupTelenor Telenor books loss on $780M Myanmar write-off Telenor advances multi-vendor SA 5G Home PPF splits CEE networks from retail operations Previous ArticleEricsson, TDC push dedicated 5G networksNext ArticleHMD Global plans software R&D push last_img read more