The Globe and Mail reports in its Tuesday, Oct. 21, edition that the Ontario Securities Commission is accusing CIBC World Markets investment adviser Paul Azeff of illegal insider trading and tipping. The Globe's Janet McFarland writes that a former client of Mr. Azeff testified Monday that the adviser told him two companies were "in play" before takeover deals were publicly announced. Mr. Azeff allegedly passed along tips to clients that he had received from former Bay Street lawyer Mitchell Finkelstein. The unnamed client told the hearing he has only a vague memory of conversations he had with Mr. Azeff about Masonite International and Dynatec, but recalls they discussed the idea that both companies were "in play." Mr. Finkelstein, a former partner in the mergers and acquisitions practice at Davies, Ward, Phillips & Vineberg LLP, is accused of tipping Mr. Azeff about six takeover deals being worked on by his firm. The men were long-time friends and former fraternity brothers. The OSC case also names two former investment advisers at TD Waterhouse Canada, Howard Miller and Man Kin Cheng, of insider trading. The men all deny the allegations.