VANCOUVER – Two top executives of a Canadian gold mining company have been fined for undisclosed insider trading spanning a three-year period.
In a settlement with the B.C. Securities Commission, Black Tusk Resources CEO Richard Ryan Penn and former CFO and secretary Roman Reuven Rubin, admitted to failing to report the vast majority of their trades relating to the company.
Black Tusk Resources is a mining company with offices in both Vancouver and Montreal. It owns six gold and palladium projects in Canada, and while the majority are located in Quebec, one is located in B.C. 145 kilometres south of Smithers.
“As insiders of the company, Penn and Rubin were required to report their trades in its securities on the publicly accessible System for Electronic Disclosure by Insiders,” reads a Jan. 6 notice from the securities commission.
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