Canadian regulator settles charges with Coinsquare over wash trading, $2M in fines paid & executives resign

posted 3 months ago
The Ontario Securities Commission settled charges with Coinsquare and its executives after they admitted to having engaged in wash trading. Coinsquare CEO Cole Diamond and president Virgile Rostand agreed to resign from their positions and paid penalties of $1 million and $900,000, respectively.

Diamond and Rostand have also been banned from acting as registrants and directors for three years, meaning they cannot influence the management of Coinsquare for the said period. Coinsquare's chief compliance officer Felix Mazer has also resigned from the position, as well as an additional $350,000 paid to the OSC.
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