The OSC list of those charged includes former Osler principals and workers. The charges relate to brokerage house operations carried out between April, 1986, and December, 1987.
Also on the list are seven persons who did not work at Osler, including the vice-president of investments of Noranda Inc. (TSE), Wilson Barbour, who allegedly misused his company’s pension fund to help finance the brokerage firm.
Hearings into the charges have been scheduled by the OSC starting Feb 16, 1990. The OSC may act in two ways, either to remove the registration privileges of, for example, an investment dealer, or remove an individual’s trading rights for a period of time.
A number of Osler principals also face court charges in the new year.
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