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Inside Internal Controls

News and discussion on implementing risk management

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Administrative penalties

Working together works: Ontario Securities Commission approves reduced sanction for insider tipper who cooperated with investigation

The OSC recently approved a settlement agreement in which the respondent admitted to providing material non-public information to a third party. The order in Re Hutchinson, which did not include an administrative penalty or disgorgement of profits, was held to be in the public interest given the respondent’s cooperation and other mitigating factors.

 

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Ministry of Environment: Administrative penalties regulation

On June 23, 2014, the Ministry of Environment introduced an administrative penalty program to encourage compliance with the Environmental Management Act and the Integrated Pest Management Act . The Administrative Penalties Regulation was designed to bridge the gap between warnings and violation tickets for minor offences and criminal prosecutions for more serious offences.

 

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