01:20:13 EST Sun 16 Feb 2025
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

CIRO finds PI's Hildebrandt a poor gatekeeper

2025-01-31 19:50 ET - Street Wire

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

The Canadian Investment Regulatory Organization has found PI Financial Corp.'s Randy Hildebrandt liable for gatekeeper violations that arose after a group of related accounts traded heavily in CSE listing JDF Explorations Inc. in 2019. CIRO says that Mr. Hildebrandt failed to question potentially manipulative activity, with one of the accounts making trades that boosted JDF by 525 per cent over a two-week period. Mr. Hildebrandt should have demonstrated an "alert, curious attitude" about the activities of his clients, CIRO has determined.

The findings are contained in a decision that CIRO released on Friday, Jan. 31. There are no penalties for Mr. Hildebrandt, at least not yet. Friday's ruling only determines his liability, with CIRO to convene a hearing to determine any fines or bans that may result from the violations.

The case goes back to 2019, when Mr. Hildebrandt had a group of related accounts that traded a single, junior issuer. (CIRO did not name the clients or the company, only describing the company as a gold explorer, but the circumstances make it clear that the regulator is referring to JDF Explorations.) In September, 2019, the clients deposited a total of 5.87 million shares, which amounted to 13 per cent of the total issued and outstanding stock in the company, CIRO said. In the four months that followed, activity in those accounts "dominated the market" for JDF, accounting for as much as 90 per cent of all trading, according to CIRO.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2025 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.


Well, it depends upon the gatekeeping function employed by Mr. Hildebrandt.

If he was controlling who/what went through the gate, then he did a great job in allowing those shares to enter into the market (and what were the tolls he levied?).

However, PI seems to have been the entity which was used to access the markets (a person or thing that controls access to something. "access to markets and customers has long been mediated by gatekeepers")

Posted by halcrow at 2025-02-03 19:42

"Every dog has their day". Coming back to bite you RH. Total loser.

Posted by McLeary at 2025-02-04 12:41