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OSC to probe hedge funds trading


Date: Monday, November 3, 2003

Theresa Tedesco, Chief Business Correspondent Financial Post: Canada's largest securities regulator is investigating potential illegal insider trading in hedge funds as part of a wider crackdown on financial market abuses, sources say. The Ontario Securities Commission is said to be "close to moving forward" on a case involving one of these loosely regulated investment vehicles, according to sources familiar with events. It is not clear whether the trades in question are similar to those currently being probed in a high-profile U.S. investigation by New York Attorney-General Eliot Spitzer. A spokesman for the provincial securities regulator declined to comment, citing the OSC's policy of neither confirming nor denying investigations. For the complete story: http://www.nationalpost.com/financialpost/story.html?id=3D1AC56B-A015-48F3-8EC4-BD03E3CC656F