OSC v. Keir Reynolds (insider trading, 2018)

Judgment entered

✓ 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 2019 the Ontario Securities Commission reciprocated a British Columbia Securities Commission settlement in which Keir Reynolds admitted insider trading, ordering a trading ban and director and officer ban running to July 3, 2021.

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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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 filed an inter-jurisdictional statement of allegations on October 24, 2018 and decided the matter in writing on January 22, 2019.

On July 3, 2018 Reynolds settled with the BCSC, admitting insider trading contrary to section 57.2(2) of the British Columbia Securities Act and agreeing to pay C$15,000 to that regulator. Ontario's panel rejected his argument that an isolated trade without profit made the conduct less serious and noted that insider trading is among the most serious contraventions.

The Ontario order bars him from trading in, or buying, securities or derivatives of any issuer with which he is in a special relationship until July 3, 2021, with a limited exception for compensation shares, and bars him from acting as a director or officer of a public issuer for the same period. The earlier record showed this as a settlement; the Ontario order followed a decision by the panel.

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. 2018-10-24 Statement of Allegations
2. 2018-10-25 Notice of Hearing
3. 2018-11-21 Statement of Allegations
4. 2019-01-22 Reasons and Decision
5. 2019-01-22 Reasons and Decision

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
• Statement of Allegations
• Notice of Hearing
• Statement of Allegations
• Reasons and Decision
• Reasons and Decision

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.