Investment Bank Misled ABCP Investors, Says Canadian Regulator

28 Sep 2011

The Ontario Securities Commission has ruled that Coventry, a Toronto-based, investment bank, violated securities laws by misleading investors in 2007 about weaknesses in the asset-backed commercial paper market.

The Ontario Securities Commission has ruled that Coventry, a Toronto-based, investment bank, violated securities laws by misleading investors in 2007 about weaknesses in the asset-backed commercial paper market. Coventry is in the process of winding down, and two of its executives face a sanctions hearing.

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