Decision in brief: Thomas John Finch, Enforcement Proceeding, Settlement, March 26, 2025

In this enforcement case, the OSC says that Thomas John Finch broke Ontario securities law by doing some insider trading. Finch was the Director of Corporate Development for Cresco Labs, Inc., a cannabis and medical marijuana company. Finch was responsible for growing Cresco’s business and was a key contact when Cresco was working to buy another company, Liberty Health Sciences Inc.

While that work was going on, Finch had access to private information about Liberty’s business. This included information about an offer from a different company that ended up buying Liberty.

While he had the private information about Liberty, Finch bought shares of Liberty. He admits that the private information he had learned about Liberty was part of the reason he bought the shares. When the private information about Liberty was announced publicly, Finch’s Liberty shares became much more valuable. However, Finch did not sell his shares then and he ended up losing almost all the money he had invested.

Finch and the OSC agreed to settle the case. In this hearing, the Tribunal approved that settlement agreement.

As a result, Finch cannot participate in Ontario’s capital markets for ten years (with some exceptions). He must resign any position he holds as a director or officer, and he cannot become a director or officer for a period of ten years, of any issuer, registrant or investment fund manager.

Finch has been reprimanded and has paid an administrative penalty of $235,000 and costs of the investigation of $22,336.27.