OSC v. Nicolas Blitterswyk (2018)

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 2018 the Ontario Securities Commission approved a settlement with Nicolas Blitterswyk, a significant insider of UGE International, over misleading and unreported trading in the company's shares between 2014 and 2016. He accepted a reprimand, a C$10,000 penalty and C$5,000 in costs. No trading on inside information is alleged.

The record

Structured fields for this action, as recorded in our case library.
Agency	OSC
Release number	2018-12
Date filed	2018-04-24
Date resolved	2018-04-30
Court	Capital Markets Tribunal (Ontario)
Status	settled
Asset class	equities
Venue	OTC
Criminal parallel	No
Defendants	Nicolas Blitterswyk (individual)
Cited as charged or alleged	Ontario Securities Act s.126.1 (statutes and rules cited in the document; not a finding that they were violated)
Techniques

What was ordered

Civil penalty: —
Disgorgement: —
Prejudgment interest: —
Total relief: —
Alleged gain: —
Penalty as published: C$10k

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 filed its statement of allegations on April 23, 2018 and approved the settlement on April 30, 2018.

Staff said the matter concerned misleading and unreported trading in UGE International shares by Blitterswyk, a significant insider, from August 2014 to May 2016, and that he breached Ontario securities law and acted contrary to the public interest. The panel noted he had since come into compliance.

The order reprimands him, imposes a C$10,000 administrative penalty and C$5,000 in costs, and includes a two-year restriction on trading in securities of certain issuers and a requirement to complete director training. The insider-trading tag arose from the word 'insider' in his status and the reporting duties he missed, and has been removed.

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.