OSC v. Zhen (Steven) Pang and Oasis World Trading Inc. (price manipulation, 2015)

Settled

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In 2015, the Ontario Securities Commission settled an action with Zhen (Steven) Pang and Oasis World Trading Inc.. A settlement finds Oasis traders made at least 460 manipulative trades, including intraday spoofing, in Canadian stocks, and that Pang, as a director, failed to monitor them. Oasis pays a C$225,000 penalty and C$75,000 costs. The release records a penalty of CAD 225,000.

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$225k

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 announced this matter on December 10, 2015. The respondents named are Zhen (Steven) Pang and Oasis World Trading Inc. (1 individual, 1 entity).

This library tags the matter as price manipulation and spoofing, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

A settlement finds Oasis traders made at least 460 manipulative trades, including intraday spoofing, in Canadian stocks, and that Pang, as a director, failed to monitor them. Oasis pays a C$225,000 penalty and C$75,000 costs.

The relief recorded in our data is a penalty of CAD 225,000. Penalty and disgorgement are distinct: disgorgement returns the gain, while the penalty is punitive. We store them separately so that aggregate figures across the library are not double-counted.

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 2 techniques 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.

• Price manipulation — see how it works, what statute it engages, and every other action tagged the same way.
• Spoofing — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2015-12-10 Notice of Hearing
2. 2015-12-10 Statement of Allegations
3. 2015-12-11 Settlement Agreement
4. 2015-12-14 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
• Notice of Hearing
• Statement of Allegations
• Settlement Agreement
• 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.