A Canadian securities regulator has found that a former Davies Ward Phillips & Vineberg partner engaged in insider trading when he passed along tips about takeover transactions that his firm was working on to his friend and former fraternity brother.
According to a decision released by an Ontario Securities Commission (OSC) panel on March 24, mergers and acquisitions partner Mitchell Finkelstein forwarded the information to Paul Azeff, an investment adviser who not only traded on the tips but passed them on to other investors.
