OSC short-selling prosecution dismissed
The Ontario Capital Markets Tribunal (the CMT) dismissed the Ontario Securities Commission (OSC) prosecution in Re Cormark Securities Inc. The CMT held that the OSC “failed to prove any of its allegations”, that the transactions in issue were not an illegal distribution, and that the respondents’ conduct did not engage the CMT’s public interest jurisdiction. The CMT’s decision contains helpful guidance for market participants on a number of issues. BLG…

