OSC v. Constance Anderson (insider trading, 2015)

Settled

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In 2015 the Ontario Securities Commission approved a settlement with Constance Anderson, who admitted insider trading in Brett Resources and Excellon Resources shares in 2009 and 2010, using information about Osisko Mining's plans that came through her spouse, then Osisko director. She agreed to a C$18,770 penalty and disgorgement of the same amount.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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Penalty as published

C$18.8k

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars. This regulator states penalties in CAD. The figure is recorded as published and is not converted, so it does not appear in the USD totals or medians used elsewhere on this site.

What is alleged to have happened

The Ontario Securities Commission approved the settlement on May 4, 2015.

Anderson worked in investor relations at Starfield Resources, whose chief executive was her spouse and also sat on the board of Osisko Mining. The agreed facts say she bought Brett shares about a minute after her spouse approved a letter of intent for Osisko to acquire Brett, and traded Excellon shares in a similar way.

The order requires her to disgorge C$18,770, the combined profit, and pay an equal administrative penalty.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2015-05-01 Notice of Hearing
2. 2015-05-04 Reasons and Decision
3. 2015-05-04 Settlement Agreement

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• Tribunal proceeding
• Notice of Hearing
• Reasons and Decision
• Settlement Agreement

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.