In the settlement, Boily agreed to, among other sanctions, a permanent ban from acting as a Director and Officer of any issuer, an administrative penalty of $750,000, $50,000 in costs, and a prohibition from trading (with a carve-out for his Locked-In Retirement Account) for the later of a period of 15 years or as long as his administrative penalty and costs order remain unpaid. Boily also agreed not to act as a Qualified Person for life."The terms of this settlement send a strong message that the Commission will not tolerate misconduct by Qualified Persons, particularly conduct which runs contrary to the important gatekeeper role played by Qualified Persons in the securities disclosure regime," said Tom Atkinson, Director of Enforcement at the Ontario Securities Commission.
Bernard Boily Settles With The Ontario Securities Commission
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