OSC v. Ontario Securities Commission v Jessica Tam (insider trading, 2025)

Settled

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In 2025 the Capital Markets Tribunal approved a settlement with Jessica Tam, who admitted taking part in an insider trading scheme devised by Huy Le Huynh around the Penn National Gaming acquisition of Score Media & Gaming. She agreed to disgorge C$120,000 and accept a two-year trading ban.

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 the settlement on October 16, 2025 and the Tribunal approved it on November 4, 2025.

Tam obtained material non-public information about the Score acquisition from Huynh, a Score vice-president, who offered funds and instructions for trades in her account in return for 80 percent of the profit. Of roughly C$390,000 in total trading profit, she agreed to disgorge C$120,000 and Huynh disgorged the remaining C$270,000 under his own settlement.

The order bans her from trading and acquiring securities for two years, subject to limited exceptions for mutual funds, ETFs, government bonds and GICs held in registered accounts. The record previously showed the matter as a judgment; it was a settlement.

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. 2025-10-16 Settlement Agreement
2. 2025-10-21 Document
3. 2025-10-22 Notice of Hearing
4. 2025-10-24 Reasons and Decision
5. 2025-11-04 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
• Settlement Agreement
• Document
• Notice of Hearing
• 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.