The ability of provincial securities regulators to enforce insider trading laws across the country is at stake, experts say, as the Alberta Securities Commission applies for leave to appeal to the Supreme Court of Canada.
The ASC announced Monday it had asked the top court to examine an Alberta Court of Appeal decision in August that overturned ASC findings and financial penalties against several people accused of illegal insider trading.
“The ASC is seeking the Supreme Court’s guidance on the standard of proof and evidence required to prove illegal insider trading allegations and on the resulting determination of sanctions,” it said in a news release.
Dan Healing – Calgary Herald – October 27, 2014.
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