(February 28 – 16:20 ET) – The Toronto Stock Exchange has approved a settlement with Robert Bastianon, formerly a registered rep with Dundee Securities Corp., for high closing.

Bastianon, who is currently with Yorkton Securities Inc. receives a $30,000 fine, a one-month suspension and must pay $3,500 towards the cost of the investigation. The TSE has found no reason to discipline Dundee.

The exchange says that on Dec. 31, 1998, “Bastianon executed trades for the account of a customer when there was reason to believe that the intended purpose of the trades was to establish an artificial price or a high closing price in a listed security.” Also, between Dec. 21, 1998 and Jan. 12, 1999, Bastianon entered orders on the exchange on behalf of Dundee without being an Approved Trader.

The institution involved in directing the trades was RT Capital Management Inc. Although Bastianon was not among the 13 traders that were initially caught in the RT scandal, these trades did occur at the same time as those that sparked the RT Capital scandal last summer.
-IE Staff