OSC settlement with Alvin Huynh and Nancy Pham in insider trading scheme approved by Capital Markets Tribunal

TORONTO, Sept. 30, 2025 /CNW/ – On Friday, September 26, 2025, the Capital Markets Tribunal approved the Ontario Securities Commission’s (OSC) settlement agreement with Mr. Huy Le (Alvin) Huynh and Ms. Thi Anh Nguyet (Nancy) Pham in relation to an insider trading scheme.

In 2021, Mr. Huynh, then Vice President of Finance at Score Media & Gaming Inc., learned of the company’s pending acquisition. Before the news was public, he shared the information with his spouse, Ms. Pham, and involved her friend, Ms. Jessica Tam, to profit from the tip. Acting on Mr. Huynh’s instructions, Ms. Tam bought 304 Score call options for under US$7,000 and sold them post-announcement for US$318,800. Mr. Huynh and Ms. Pham used coded messages to coordinate with Ms. Tam and received $270,000 in cash. Mr. Huynh admitted to insider trading and tipping, violating sections 76(1) and 76(2) of the Securities Act. Ms. Pham admitted to conduct contrary to the public interest.

As part of the settlement agreement, Mr. Huynh will be subject to a seven-year market ban, including from trading securities or derivatives, subject to personal carve-outs and a seven-year director and officer ban. Mr. Huynh has agreed to an administrative penalty of $325,000, disgorgement of $270,000 and a further $40,000 towards the cost of OSC’s investigation. Ms. Pham will be subject to a three-year market ban, including from trading securities or derivatives, subject to personal carve-outs and a three-year director and officer ban limited to reporting issuers. Ms. Pham has agreed to pay $10,000 towards the cost of OSC’s investigation.

“This settlement reinforces the critical importance of upholding market integrity. Insider trading undermines investor confidence and the fairness of our capital markets,” said Bonnie Lysyk, Executive Vice President, Enforcement at the OSC. “This case sends a clear message that those who misuse confidential information for personal gain will be held accountable.”

A copy of the Settlement Agreement is available on the website of the Capital Markets Tribunal.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at https://www.osc.ca.

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SOURCE Ontario Securities Commission