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by Mike Caswell

The Ontario Securities Commission is seeking to ban Trevor Rosborough, a former mutual fund salesman, for violating a prior ban that he received for insider trading in WeedMD Inc. The OSC claims that Mr. Rosborough began violating his ban on the day it was imposed, Aug. 25, 2021. According to the OSC, he remained in violation until investigators started asking questions over three years later -- on Dec. 20, 2024.

The request from the OSC is contained in an application that the regulator released on Friday, March 20. The sole respondent is Mr. Rosborough, a former mutual fund salesman previously cited along with others for a scheme involving inside information. According to the OSC, Mr. Rosborough obtained inside information from a WeedMD employee and family friend, Taylor Carr.

The OSC said that Mr. Carr learned on Nov. 10, 2017, that WeedMD was planning a "transformational expansion" that would allow it to grow its annual production from 1,200 kilograms to more than 50,000 kilograms. The news, which later sent the stock up by 33 per cent, was not public at the time. According to the OSC, Mr. Carr relayed the news to Mr. Rosborough that same day, which was over a week before it became public.

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