Ontario Securities Commission Sanctions Hedge Fund Manager Sextant Capital Management and its Principal for Breach of Fiduciary Duty

The Ontario Securities Commission recently handed down a decision against an investment fund manager that demonstrates its willingness to levy severe sanctions against managers engaged in fraud with respect to investors.  The decision is notable for its facts and legal analysis as well as its location.  Canada is an increasingly important jurisdiction for hedge fund managers and investors, and this matter provides useful color on the regulatory landscape there.

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