In Re Donald 1, the Ontario Securities Commission (“OSC”) found that a former Research in Motion Ltd. (“RIM”) employee acted in a manner “contrary to the public interest” by trading in securities with knowledge of a potential take-over of the Issuer, despite the fact that there was no violation of the insider trading prohibition. The decision is indicative of the OSC’s willingness to find public interest violations where there is no technical breach of the insider trading provisions of the Ontario Securities Act (the “Act”). (...)

type The Scope of Improper Trading