The Ontario Securities Commission’s on-going probe into market timing and late trading in Canadian mutual funds entered a significant new phase in late September 2004. The OSC confirmed that its probe, which has been carried out in three phases over the past ten months, has uncovered no evidence of late trading in Canadian mutual funds and that detailed on-site reviews of trading practices at seven mutual fund companies have been completed. As a result of those reviews, OSC staff sent four fund managers notices of potential enforcement proceedings concerning "alleged market timing violations", asking those fund managers to respond to the allegations before commencing any such proceedings.

type Investment Funds Advisory - September 2004 - OSC Releases First Results of Probe into Late Trading