Shares in Research in Motion opened lower on the Toronto Stock Exchange Thursday morning following a report that the Ontario Securities Commission is seeking a penalty as high as $100 million from the top two executives at the firm to pay for their role in a stock option accounting controversy dating back to 1996.

RIM shares opened at $64.06, down more than $2, from Wednesday’s close of $66.75.

A report in the Globe and Mail said OSC staff is in advanced discussions with lawyers representing RIM’s co-chief executive officers, Jim Balsillie and Mike Lazaridis.

The OSC’s investigation began in 2006.