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|FOR IMMEDIATE RELEASE
August 31, 2015
Shaida Bandali Pleads Guilty to Unregistered Trading in Ontario Court of Justice
TORONTO – The Ontario Securities Commission (OSC)’s Joint Serious Offences Team (JSOT) announced today that Shaida Bandali pled guilty to one count of unregistered trading contrary to section 25(1) of the Securities Act (Ontario) at Old City Hall - Ontario Court of Justice before Madam Justice Caldwell.
Ms. Bandali was charged in connection with the misuse of confidential information at Rouge Valley Hospital. Bandali is a former clerk at the hospital. Bandali acknowledged in court today that, between January 1, 2010 and March 31, 2014, she engaged in the business of trading in securities without being registered to do so in relation to the following particulars:
Repeatedly breaching the confidentiality policies of her employer, the Rouge Valley Hospital, by accessing, copying, or distributing confidential personal data of maternity patients to one or more Registered Education Savings Plan (RESP) dealer representatives;
Creating investor lists from unauthorized access to confidential maternity patient information;
Selling investor lists drawn from unauthorized access to confidential maternity patient information to one or more RESP dealer representatives in the business of soliciting clients; and,
Receiving monies for confidential maternity patient information from RESP dealer representatives without disclosing her conduct to her employer and to maternity patients.
Sentencing for Ms. Bandali in this matter is scheduled to take place on October 13, 2015 at 10:00 a.m. in Courtroom #112 at Old City Hall, 60 Queen Street West in Toronto, Ontario.
JSOT was established by the OSC as an enforcement partnership between the OSC, the Royal Canadian Mounted Police Financial Crime program and the Ontario Provincial Police Anti-Rackets Branch. The primary objective of JSOT is to protect investors and further enhance confidence in the Canadian capital markets through effective enforcement. This is accomplished through collaborative investigations of serious violations of the law using the provisions of the Securities Act or the Criminal Code.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in the capital markets. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca
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