(August 3 – 09:25 ET) – The trading scandals just keep on coming, with word that the Quebec Securities Commission is investigating TD Evergreen over the possibility that an employee has been touting stocks online.
The Globe and Mail reports in a front-page story that the QSC is investigating a complaint over possible online touting at a popular French Website, www.webfin.com. According to the story a TD Evergreen employee from Ste. Foy, using the name Patrick Gravel, was pumping DelSecur Corp. on the OTC Bulletin Board. The story says TD has begun its own investigation.
While regulators often co-ordinate sweeps of the Internet with the U.S. Securities and Exchange Commission, and are known to watch major bulletin boards such as Silicon Investor and Raging Bull, this is believed to be the first Canadian online touting investigation.