The Ontario Securities Commission (OSC) has charged Vernon Smith of Barrie, Ont., who was sentenced to jail for securities law violations last year, with further alleged trading violations on Wednesday.
Smith has been charged with one count of trading without registration and two counts of breaching a cease-trade order by trading and acting as an officer or director of an issuer while prohibited under a 2010 OSC order. These latest allegations have not been proven.
Last year, Smith was sentenced to 15 months in jail and a year of probation after he was convicted of four counts of breaching cease-trade orders and three counts of unregistered trading.
The OSC reports that the newly alleged breaches happened between March 1, 2015 and Dec. 31, 2015. Smith’s first court appearance on these latest allegations is scheduled for Feb. 3 at Old City Hall in Toronto.
The allegations follow an investigation by the OSC’s Joint Serious Offences Team, which is an enforcement partnership between the OSC, the RCMP and OPP.