Marginal note:Community impact statement
380.4 (1) For greater certainty, for the purpose of determining the sentence to be imposed on an offender, or whether the offender should be discharged under section 730, in respect of an offence referred to in subsection 380(1), the court may consider a statement made by a person on a community’s behalf describing the harm done to, or losses suffered by, the community arising from the commission of the offence.
(2) The statement must
(a) be prepared in writing and filed with the court;
(b) identify the community on whose behalf the statement is made; and
(c) explain how the statement reflects the community’s views.
Marginal note:Copy of statement
(3) The clerk of the court shall provide a copy of the statement, as soon as practicable after a finding of guilt, to the offender or counsel for the offender, and to the prosecutor.
- 2011, c. 6, s. 4.
Marginal note:Using mails to defraud
381. Every one who makes use of the mails for the purpose of transmitting or delivering letters or circulars concerning schemes devised or intended to deceive or defraud the public, or for the purpose of obtaining money under false pretences, is guilty of an indictable offence and liable to imprisonment for a term not exceeding two years.
- R.S., c. C-34, s. 339.
Marginal note:Fraudulent manipulation of stock exchange transactions
382. Every one who, through the facility of a stock exchange, curb market or other market, with intent to create a false or misleading appearance of active public trading in a security or with intent to create a false or misleading appearance with respect to the market price of a security,
(a) effects a transaction in the security that involves no change in the beneficial ownership thereof,
(b) enters an order for the purchase of the security, knowing that an order of substantially the same size at substantially the same time and at substantially the same price for the sale of the security has been or will be entered by or for the same or different persons, or
(c) enters an order for the sale of the security, knowing that an order of substantially the same size at substantially the same time and at substantially the same price for the purchase of the security has been or will be entered by or for the same or different persons,
is guilty of an indictable offence and liable to imprisonment for a term not exceeding ten years.
- R.S., 1985, c. C-46, s. 382;
- 2004, c. 3, s. 4.
Marginal note:Prohibited insider trading
382.1 (1) A person is guilty of an indictable offence and liable to imprisonment for a term not exceeding ten years who, directly or indirectly, buys or sells a security, knowingly using inside information that they
(a) possess by virtue of being a shareholder of the issuer of that security;
(b) possess by virtue of, or obtained in the course of, their business or professional relationship with that issuer;
(c) possess by virtue of, or obtained in the course of, a proposed takeover or reorganization of, or amalgamation, merger or similar business combination with, that issuer;
(d) possess by virtue of, or obtained in the course of, their employment, office, duties or occupation with that issuer or with a person referred to in paragraphs (a) to (c); or
(e) obtained from a person who possesses or obtained the information in a manner referred to in paragraphs (a) to (d).
(2) Except when necessary in the course of business, a person who knowingly conveys inside information that they possess or obtained in a manner referred to in subsection (1) to another person, knowing that there is a risk that the person will use the information to buy or sell, directly or indirectly, a security to which the information relates, or that they may convey the information to another person who may buy or sell such a security, is guilty of
(a) an indictable offence and liable to imprisonment for a term not exceeding five years; or
(b) an offence punishable on summary conviction.
(3) For greater certainty, an act is not an offence under this section if it is authorized or required, or is not prohibited, by any federal or provincial Act or regulation applicable to it.
Definition of “inside information”
(4) In this section, “inside information” means information relating to or affecting the issuer of a security or a security that they have issued, or are about to issue, that
(a) has not been generally disclosed; and
(b) could reasonably be expected to significantly affect the market price or value of a security of the issuer.
- 2004, c. 3, s. 5.
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