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Message: Broker admits to insider trading and tipping

https://secure.globeadvisor.com/servlet/ArticleNews/story/gam/20100909/TICKERAATL_1

Thursday, September 9, 2010

Janet McFarland

A former employee of Agoracom Investor Relations Corp. will pay $23,862 in penalties and costs to settle Ontario Securities Commission allegations he engaged in insider trading and tipping. In a settlement agreement approved Wednesday, Scott Purkis acknowledged he earned $9,432 by trading shares on eight occasions with knowledge of facts about Agoracom's clients that had not been publicly disclosed. He also admitted to using aliases to promote small-cap shares on Agoracom's Internet chat rooms. In a settlement agreement with the OSC, Mr. Purkis agreed to a seven-year ban on trading securities with some exceptions, and will be prohibited from being registered to work in the securities industry or acting as a director, officer or investment fund manager of any registered company. Mr. Purkis was a business development representative at Agoracom from 2006 until January this year.


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