OSC rules Norshield hedge fund misled investors
Tuesday, March 9, 2010 : PermalinkGlobe And Mail – Two former executives of collapsed hedge fund Norshield Asset Management (Canada) Ltd. knowingly misled investors, failed to keep proper books and made misleading statements to investigators, an Ontario Securities Commission panel has concluded.
In a ruling released yesterday, the OSC said former CEO John Xanthoudakis and president Dale Smith breached Ontario Securities Act rules while running the $1-billion hedge fund.
