OSC v. Jorge Neher (2017)

Settled

Checked against the primary document on October 2, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In 2017 the Ontario Securities Commission approved a settlement with Jorge Neher, a Norton Rose Fulbright partner in Bogota who traded in a client's shares without following his firm's pre-clearance policy. He accepted a reprimand, an eighteen-month trading ban and C$20,000 in costs. The matter is a breach of firm trading policy, not a charge of insider trading.

The record

Structured fields for this action, as recorded in our case library.
Agency	OSC
Date filed	2017-05-12
Date resolved	2017-05-16
Court	Capital Markets Tribunal (Ontario)
Status	settled
Asset class	equities
Criminal parallel	No
Defendants	Jorge Neher (individual)
Techniques

What was ordered

Civil penalty: —
Disgorgement: —
Prejudgment interest: —
Total relief: —
Alleged gain: —

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.

What is alleged to have happened

The Ontario Securities Commission issued its statement of allegations on May 12, 2017 and approved the settlement on May 16, 2017.

Neher was lead partner for a client that was an Ontario reporting issuer. The allegations say that after his firm adopted a global trading policy in October 2014 he did not read or follow it, and traded in the client's shares without the pre-clearance it required, conduct Staff said was contrary to the public interest because trading policies safeguard confidential information. Staff did not allege a breach of the insider trading prohibition, and his trades followed an investment strategy begun before the policy.

The order reprimands Neher, bars him from trading for eighteen months and requires C$20,000 in costs. No administrative penalty is imposed.

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.

Timeline

Primary documents

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

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

Record added September 10, 2026. submit a correction.