Feeds

Former Corel CEO back in frame as regulators toss deal

Lack of guilt replaced by deep contrition...

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Former Corel CEO Michael Cowpland is not not guilty of insider trading after all. Earlier this week he appeared to have escaped the slammer via a strange deal whereby his personal holding company peaded guilty and paid the fine, but Cowpland himself escaped, sort of.

But this was part of a negotiated settlement which has now gone up in smoke, as the Ontario Securities Commission has now decided to junk it. Aside from having the charges against him dropped, Cowpland was going to be reprimanded and barred from being a company director for two years. An OSC judicial panel has now however decided to reject the deal as not sending a strong enough message. Quoted in the Globe & Mail yesterday, OSC vice chairman Paul Moore said there must be "real consequences" to illegal actions, and that the financial settlement should reflect the financial circumstances of the accused.

Cowpland's lawyer now says that he's "entirely and deeply contrite." He is also now headed back to the negotiating table, no doubt... ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.