The Ontario Securities Commission announced that John Natividad was sentenced to 90 days in jail, a $360,000 fine and two years of probation after pleading guilty to insider trading under Ontario’s Securities Act. A mandatory 25% surcharge increases the total financial penalty to $450,000. Natividad admitted that, while working as a software developer at a newswire distribution company, he used advance access to corporate press release headlines to trade on material nonpublic information between May 2018 and July 2021. He made 275 trades based on 234 unpublished releases and generated more than USD 435,000 in illicit profits.
Ontario Securities Commission announces 90-day jail sentence and $450,000 financial penalty for insider trading
The Ontario Securities Commission announced that John Natividad received 90 days in jail, two years of probation and a total financial penalty of $450,000 for insider trading. He generated more than USD 435,000 in illicit profits through 275 trades based on advance access to 234 unpublished corporate releases.