Sino-Forest Ban Extended to January by Regulator Pending Probe
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Canada’s main securities regulator extended the trading ban on Sino-Forest Corp.’s shares while it pores over tens of thousands of documents as part of an investigation into possible fraud at the forestry company.
Ontario Securities Commission Vice Chairman Mary G. Condon lengthened the suspension to Jan. 25 at a hearing in Toronto yesterday. Lawyers for Sino-Forest and former Chief Executive Officer Allen Chan agreed to the move. Chan and four other executives of the Hong Kong- and Mississauga, Ontario-based company will be unable to trade securities through that date.