Ontario Securities Commission - Omar Maloney charged Quasi-Criminally with Two Counts of Breaching an OSC Cease Trade Order

TORONTO, Feb. 27, 2015 /CNW/ - The Ontario Securities Commission (OSC) announced today that Omar Maloney of Stouffville, Ontario has been charged with alleged breaches of the Securities Act (Ontario) following an investigation by the OSC's Joint Serious Offences Team (JSOT).

Maloney was charged with one count of acquiring securities when he was prohibited from trading in securities by order of the Commission dated December 19, 2011. Maloney was further charged with one count of trading in securities when he was prohibited by order of the Commission dated December 19, 2011. Both counts are contrary to section 122(1)(c) of the Securities Act.

Maloney continues to be subject to an ongoing cease trade order prohibiting him from acquiring and trading in securities.

Maloney is scheduled to appear in court in this matter on March 13, 2015 at 11:00 a.m. in Courtroom # 111 at the Old City Hall - Ontario Court of Justice, 60 Queen Street West in Toronto, Ontario.

JSOT was established by the OSC as an enforcement partnership between the OSC, 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 Securities Act or the Criminal Code of Canada.

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

SOURCE Ontario Securities Commission

For further information: For Media Inquiries: media_inquiries@osc.gov.on.ca; For Investor Inquiries: OSC Contact Centre, 416-593-8314, 1-877-785-1555 (Toll Free); Follow us on Twitter: OSC_News;


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