Daniel Tiffin and Tiffin Financial Corporation Charged Quasi-Criminally with Unregistered Trading, Trading in Securities Without a Prospectus and Breaching an OSC Cease Trade Order
TORONTO, May 6, 2014 /CNW/ - The Ontario Securities Commission (OSC) announced today charges against Daniel Tiffin of Toronto, Ontario and Tiffin Financial Corporation (TFC) of Richmond Hill, Ontario for alleged breaches of the Securities Act (Ontario), following an investigation by the OSC's Joint Serious Offences Team (OSC – JSOT).
Tiffin and TFC were charged with one count of trading without registration as required by section 25(1) of the Securities Act, and one count of trading in securities without a prospectus as required by section 53(1) of the Securities Act.
Tiffin and TFC were further charged with one count of trading in securities during a time when they were prohibited from trading in securities by order of the Commission dated December 22, 2009.
The first court appearance for Tiffin and TFC in this matter is scheduled to take place June 10, 2014 at 10:30 a.m. in Courtroom # 205 at the Ontario Court of Justice, 50 Eagle Street West in Newmarket, Ontario.
JSOT was established by the OSC as an enforcement partnership between the OSC and the Royal Canadian Mounted Police Financial Crime program and the Ontario Provincial Police Anti Rackets Branch. The primary objective of JSOT is to protect investors and further enhance confidence in the Canadian capital markets through effective enforcement. This is accomplished through collaborative investigations of serious violations of the law using the provisions of the Ontario Securities Act or the Criminal Code of Canada.
Tiffin and TFC continue to be subject to a cease trade order prohibiting him from trading in securities.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in the capital markets. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca
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