The Ontario Security Commission is going to send on-site examiners to review the trading records of a number of Canadian mutual fund managers to see if the trading abuses that have been uncovered in the U.S. have occurred in that nation, as well, The Hamilton Spectator reports.
The number of fund companies the Commission is investigating has been narrowed to 31 from an original 105 in November. The Commission said that late trading is illegal in Canada and that market timing may also be in violation of regulatory requirements.
The Canadian regulator has been criticized for not investigating trading violations since they have become such a tremendous issue in the U.S.
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