Latest news with #OSC
Yahoo
3 days ago
- Business
- Yahoo
Promino Nutritional Sciences Inc. Provides Corporate Update
Burlington, Ontario--(Newsfile Corp. - August 7, 2025) - Promino Nutritional Sciences Inc. (CSE: MUSL) (OTC Pink: MUSLF) (FSE: 93X) (the "Company" or "Promino") wishes to advise that it has completed a reformulation of its Rejuvenate Muscle Health™ and Promino™ products, which now rely on a new amino acid blend. The reformulated product no longer relies on the patented formulation previously employed by the Company, eliminating the need to incur future patent sublicense expenses, while still delivering excellent results for our customers. EightIP LLC, the patent sublicensor in respect of the Company's legacy product formulation, has terminated the sublicense agreement in respect of the patent which was relied upon by the Company's legacy product formulation (see the Company's news release of December 6, 2023 for more information), and filed a claim in the state of Nevada for damages in respect of unpaid royalty fees and related remedies. On review of the claim, there are a number of defences available to the Company, and the Company is working to achieve an amicable settlement. Updates will be provided in due course. The Company also advises that it is working diligently with its auditors to file outstanding financial reports in an effort to become eligible to have the ongoing cease trade order imposed on May 8, 2025 by the Ontario Securities Commission revoked so that it may resume trading on the Canadian Securities Exchange. Updates will similarly be provided in due course. About Promino Promino is an innovative and research driven Canadian nutraceutical company specializing in the development of science-based products for the global consumer packaged goods market, with a portfolio focused specifically on muscle health. Promino's lead product, Rejuvenate Muscle Health™ now benefits from a new formulation that aims to assist in the building, rebuilding, restoration and rejuvenation of natural muscle mass. Promino also offers Promino™, an elite performance supplement for both professional and amateur athletes to accelerate muscle recovery, build strength and accelerate recovery from injury. Promino was founded in 2015 and is located in Burlington, Ontario. For more information about Rejuvenate Muscle™ Activator and where to purchase, visit To learn more about Promino, visit Forward-Looking Statements This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. All statements that address activities, events, or developments that the Company expects or anticipates will, or may, occur in the future, are forward-looking statements, including statements regarding the Company's cease trade order, the status of ongoing litigation, continuous disclosure filings and business prospects. In some cases, forward-looking statements are preceded by, followed by, or include words such as "may", "will," "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "anticipates", "continues", or the negative of those words or other similar or comparable words. In preparing the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to prompt completion of the FY 2024 audit, and that general business and economic conditions will not change in a materially adverse manner. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. For further information about Promino: Vito Sanzone, CEO, vsanzone@ 289-348-1970 ext. 222 Marc Charbin, Investor Relations, To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Politico
4 days ago
- Politics
- Politico
About that Jack Smith investigation
Welcome to POLITICO's West Wing Playbook: Remaking Government, your guide to Donald Trump's unprecedented overhaul of the federal government — the key decisions, the critical characters and the power dynamics that are upending Washington and beyond. Send tips | Subscribe | Email Sophia | Email Irie | Email Ben JACK SMITH's time has finally come. The U.S. Office of Special Counsel last week launched an investigation into the man who brought two federal criminal cases against DONALD TRUMP in 2023. But the investigation appears to be a thinly veiled political stunt aimed at placating the president, who has promised to seek retribution against the former Justice Department special counsel. The probe focuses on whether Smith used his position as a federal government employee to engage in political activities in violation of the Hatch Act. It comes after Senate Intelligence Chair TOM COTTON (R-Ark.) requested that OSC investigate Smith for 'unprecedented interference in the 2024 election.' The office, an independent agency in the executive branch, investigates whistleblower complaints and alleged violations of civil service laws. It is separate from DOJ special counsels who are appointed by the attorney general to handle politically sensitive cases. The inquiry raises a number of questions, including: what conduct, if any, by Smith might be considered political; how the OSC could even punish him; and what Trump's ultimate aim could be. What did Smith say or do that could be considered political activity? Smith appeared to go to great lengths during his investigations to avoid saying anything publicly that could be construed as political. During the prosecution of Trump for his effort to subvert the 2020 election, Smith avoided any mention of the looming 2024 election. And he made no mention of the contest in court briefs urging the Supreme Court to quickly take up the election subversion case. Smith referenced the country's 'compelling interest' in determining the outcome of the case, writing that the public interest demands 'prompt resolution' without 'undue delay.' Cotton said Smith's push for a speedy trial and what he described as a 'procedurally irregular' brief in September 2024 'were the actions of a political actor masquerading as a public official.' The brief, which Smith filed at the direction of a federal judge, included large swaths of evidence to argue the case was still salvageable in the wake of the Supreme Court's immunity ruling. Trump balked about the inclusion of derogatory details of the case being made public in the final weeks of the election. But RICHARD PAINTER, who served as the chief White House ethics lawyer for former President GEORGE W. BUSH, said that 'absent Smith giving interviews, making public statements referring to the 2024 election,' his behavior wouldn't merit a Hatch Act violation. Justice Department policies prohibit indicting a candidate close to an election, but 'if you have a previously indicted candidate, and you're just going through the steps you know that lawyers go through in these cases,' that is permissible activity, Painter said. 'I've never heard of a Hatch Act case being premised on court filings,' he said, adding: 'I just don't see the evidence there.' A lawyer for Smith didn't immediately respond to a request for comment. A spokesperson for OSC declined to comment. How might OSC punish Smith if it were to find a violation occurred? There's virtually no way to punish Smith. Federal employees who are found to violate the Hatch Act primarily lose their jobs, but Smith is no longer employed by the federal government. Other penalties include suspension, formal reprimand and a $1,000 fine. So, what does Trump get out of this? One possibility is that Trump's disdain for Smith, whom he has described as 'mentally deranged,' is satisfied merely by seeing headlines about Smith under investigation. And even if Smith is ultimately cleared, Trump may take pleasure in dragging Smith through the burdens of an investigation — including the legal expenses. And it is possible for OSC to take the rare step of escalating the inquiry into a criminal matter, according to Painter. The office can make a criminal referral if it finds that someone ordered or coerced a federal employee to engage in partisan politics. 'I don't see any evidence, quite frankly, that he violated that,' said Painter, who added that he isn't aware of the OSC ever having made such a referral. MESSAGE US — West Wing Playbook is obsessively covering the Trump administration's reshaping of the federal government. Are you a federal worker? A DOGE staffer? Have you picked up on any upcoming DOGE moves? We want to hear from you on how this is playing out. Email us at westwingtips@ Did someone forward this email to you? Subscribe! POTUS PUZZLER Which presidents have donated their salaries? (Answer at bottom.) WHO'S IN, WHO'S OUT LABOR SHEDS CIO: THOMAS SHEDD left his role as chief information officer at the Department of Labor last week, Nextgov/FCW's NATALIE ALMS reports, a move that comes as the agency has lost about 20 percent of its total workforce and about 40 percent of its tech office to voluntary departures. The former Tesla engineer still appears to hold positions at the General Services Administration and the Federal Acquisition Service. FEMA TO ICE: The Department of Homeland Security has reassigned dozens of employees with the Federal Emergency Management Agency to Immigration and Customs Enforcement to assist in vetting and processing new hires for the government's mass deportation efforts, WaPo's BRIANNA SACKS reports. DHS stressed that the moves are temporary and won't impact disaster relief, but five current and former FEMA officials told WaPo that losing that many people, even for a few months, will slow down operations for an agency that has already been significantly gutted. DHS Assistant Secretary TRICIA McLAUGHLIN confirmed the reassignments, saying that 'through the One Big Beautiful Bill, DHS is adopting an all-hands-on-deck strategy to recruit 10,000 new ICE agents.' She added that 'to support this effort, select FEMA employees will temporarily be detailed to ICE for 90 days to assist with hiring and vetting.' Agenda Setting TOP SECRET NO MORE: The Trump administration overrode concerns from the CIA and other intelligence agencies' officials in its push to release a lightly redacted version of a highly classified document on Russia's interference in the 2016 election, WaPo's WARREN P. STROBEL reports. The officials were specifically concerned that more of the document should remain classified to obscure U.S. spy agencies' sources and methods. The document that Director of National Intelligence TULSI GABBARD, with the president's blessing, ordered released last month is a 46-page report stemming from a review that began in 2017 by Republicans on the House Intelligence Committee. The report takes issue with U.S. intelligence agencies' finding earlier that year that Russian President VLADIMIR PUTIN developed a preference for Trump over Democratic candidate HILLARY CLINTON and looked to help him win the election. The document contains multiple references to CIA human sources reporting on Putin's plans. Those sources are among the agency's most closely guarded secrets — so much so that after the report was completed in 2020, it was considered sensitive enough to be stored at the CIA rather than on Capitol Hill. The White House did not respond to a request for comment. A CIA spokesperson said Director JOHN RATCLIFFE 'strongly supports' the release of the report. ANOTHER ONE: UCLA is at risk of losing more than half a billion dollars in federal research funding as the Trump administration continues its pressure on higher education institutions to address allegations of antisemitism on campuses, our NICOLE NORMAN reports. UCLA officials announced today that the administration is withholding $584 million. The sum is far more than what was initially estimated when the DOJ announced last week it was investigating the school. In a University-wide letter sent this morning and shared with POLITICO, UCLA Chancellor JULIO FRENK confirmed the grant money, aimed at funding hundreds of research projects in a wide array of fields, is 'suspended and at risk.' UNION CUTS: The Department of Veterans Affairs announced today it had canceled several agreements with unions, including the American Federation of Government Employees; National Association of Government Employees; National Federation of Federal Employees; National Nurses Organizing Committee/National Nurses United; and the Service Employees International Union. The agency said the move follows Trump's March executive order revoking federal bargaining rights from some federal workers. The thousands of VA police officers, firefighters and security officers will retain their bargaining rights. 'Too often, unions that represent VA employees fight against the best interests of Veterans while protecting and rewarding bad workers,' VA Secretary DOUG COLLINS said in a statement. 'We're making sure VA resources and employees are singularly focused on the job we were sent here to do: providing top-notch care and service to those who wore the uniform.' LET'S SLOW DOWN: The Trump administration is directing the Bureau of Land Management to cut spending associated with several key agency programs, including renewable energy and land acquisitions, POLITICO's E&E News' SCOTT STREATER reports. The guidance, sent Monday from the Office of Management and Budget, directs BLM to cut spending on these programs 'outside of Federal salary and payroll expenses, minimum expenses to maintain safe operations, or payments otherwise required by law.' Representatives at the Interior Department and BLM did not respond to requests for comment. What We're Reading 'You're Asking Me to Contemplate the Nuclear Scenario' (POLITICO's Victoria Guida) Trump's War on Big Law Means It's Harder to Challenge the Administration (ProPublica's Molly Redden) Trump Amps Up an Obama Strategy to Crack Down on Colleges (NYT's Jeremy W. Peters) POTUS PUZZLER ANSWER Trump today claimed to be the only president to donate his salary, but two others have as well: former Presidents HERBERT HOOVER and JOHN F. KENNEDY, according to the National Archives.
Cision Canada
4 days ago
- Business
- Cision Canada
Harpreet Saini Guilty of Insider Trading
TORONTO , Aug. 6, 2025 /CNW/ - The Ontario Securities Commission (OSC) announced today that Harpreet Saini of Brampton has been sentenced to six months less a day in jail after pleading guilty on July 25, 2024 to insider trading pursuant to s. 76(1) of Ontario's Securities Act. As part of his sentence, the Court ordered Mr. Saini to pay a fine in the amount of $1,149,114.93 encompassing disgorgement of all his profits and an additional $100,000. He will also be subject to various trading bans for 10 years pursuant to the Securities Act. In addition, the Provincial Offences Act imposes a mandatory 25% fine surcharge that brings Mr. Saini's overall exposure to $1,436,393.66. Mr. Saini acknowledged that between May 2018 and July 2021, he accessed material non-public information through his employer, a newswire distribution network specializing in corporate press releases. Mr. Saini worked as a software developer, which allowed him to access corporate press release headlines before they were published. He then traded securities 553 times based on the headlines of 497 unpublished press releases. In total, he realized illicit gains exceeding $770,000 USD from more than 400 trades. In September 2022, both Mr. Saini and a co-accused, John Natividad, were charged under the Securities Act. The charges relating to Mr. Natividad are still before the court. "Employees who have access to confidential corporate information have a duty to safeguard that information and not misuse it for their personal benefit," said Bonnie Lysyk, Executive Vice President, Enforcement, OSC. "Insider trading is illegal, and it erodes investor confidence in our markets. The OSC will continue to use all the tools at our disposal to root out this type of misconduct and pursue bad actors." This case was brought by the OSC's Criminal Investigations & Prosecutions team, which is part of the Enforcement Division of the OSC. They investigate securities-related frauds, market manipulation, and related misconduct, including the investigation of repeat offenders and those who breach Capital Markets Tribunal or Court orders and bans. Their primary objective is to protect investors and further enhance confidence in the Canadian capital markets through effective enforcement. To do this, they often partner and collaborate with other law enforcement agencies and police forces. Charges laid under the Securities Ac t are prosecuted by the OSC. Charges laid under the Criminal Code are prosecuted by the Ministry of the Attorney General. 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
Yahoo
5 days ago
- Business
- Yahoo
Watchdogs warn against finfluencers, but here's how they can help
Regulators are warning consumers to be careful about taking financial advice from online influencers or so-called 'finfluencers.' The criticism is mostly justified but also ignores some of the benefits of following financial influencers and some of the problems with relying solely on the financial industry itself. There may be a more balanced perspective on social media financial advice that can help consumers. Warnings from the regulators A recently released report from the International Organization of Securities Commissions (IOSCO) called Finfluencers recommended a worldwide strategy ranging from educational initiatives to enforcement actions aimed at cracking down on financial influencers. In the United Kingdom, it is now a criminal offence to encourage someone to invest in a security unless the person recommending it is licensed by the Financial Conduct Authority (FCA) or a specific exemption applies. A Swiss Finance Institute (SFI) research paper, also titled Finfluencers, concluded '(that) most finfluencers are unskilled or 'antiskilled,' producing negative … returns, while (only) a minority demonstrate skill.' The authors found that these less skilled financial influencers, whose investment recommendations led to lower returns, made posts that were more engaging and tended to attract more followers than the skilled finfluencers who may have been worth following. Closer to home, the Ontario Securities Commission (OSC) conducted a survey of retail investors who have made financial decisions based on the advice of finfluencers. They found these investors were more than 12 times more likely to have been scammed on social media and nearly five times more likely to trade their investments several times a week. (Frequent trading tends to lead to lower returns.) Respondents were also more than twice as likely to have had significant investment losses in the past and tend to be self-directed investors who have no professional support for financial advice. Self-directed investors or any investors who want an unbiased source to learn about investing basics should check out the resources on FAIR Canada's website. FAIR is Canada's only national, non-profit, investor-focused organization, independent of any government or regulator. Financial literacy increases overall wellness My own controversial take on finfluencers is that they have done a good job raising awareness about investing and other wealth building strategies for the masses. They have managed to reach people who may not have otherwise taken an interest in personal finance. Teenagers are learning about money and investing, even if the advice may not be great. Personal finance is becoming proactive and mainstream rather than just a responsibility for rich retirees. Studies show that financial literacy is good for both financial wellness and overall wellbeing. If TikTok and Instagram help reach an audience who would not care about their finances without financial influencers, is it all bad? The financial industry requires skepticism Most people in the financial industry are good people who care about their clients, but most businesses in any industry exist primarily to make a profit. There are concerning conflicts of interest in some areas of the Canadian financial industry that put profits ahead of people and that can lead to biased advice. Many financial advisers in Canada do not provide financial advice as their primary responsibility. They sell products and they and their companies are paid a percentage of the fees collected, whether the fees are explicit or embedded. Many advisers have no legal fiduciary responsibility to put their client's best interests first and most people are unaware of this. As a result, a consumer needs to take financial advice with a healthy sense of skepticism. It does not need to be this way, but it is, and the financial industry has been very protective of this flawed model. I think there is a benefit from having finfluencers to force discussions between clients and financial advisers that might not otherwise happen without them. One-size-fits-all does not exist The most important thing to remember is that there is no single strategy that suits everyone. So, whether you are reading a blog post from a bank financial adviser or watching a Facebook Live from a self-proclaimed money guru, you should consider the topic or advice to be general in nature. It may not apply to you at all. Some investors should not buy stocks. A registered retirement savings plan may be better than a tax-free savings account depending on the circumstances. Life insurance is an essential risk-management tool for a young breadwinner but may be a terrible way to pay tax on your estate. Should you follow finfluencers? There can be bad and biased advice on social media. Some of the finfluencer advice is blatantly bad and biased. Most of the financial industry advice is good but can also be biased. The best thing that you can do for your finances as a consumer is to absorb as much as you can from several sources to make good money choices based on you and your own goals. This applies whether you work with a professional or not but take everything with a grain of salt. Jason Heath is a fee-only, advice-only certified financial planner (CFP) at Objective Financial Partners Inc. in Toronto. He does not sell any financial products whatsoever. He can be reached at jheath@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hill
6 days ago
- Politics
- The Hill
Ex-federal prosecutor: Jack Smith charges ‘last thing' Trump would want
Former federal prosecutor Andrew Weissmann dismissed the likelihood that criminal charges would be brought against former special counsel Jack Smith, saying that would be the 'last thing' President Trump would want. The Office of Special Counsel (OSC) confirmed this weekend that it is investigating Smith, the former special counsel who brought two criminal cases against Trump, on allegations that he engaged in political activity through his investigations of the president. Weissmann stressed in an interview on MSNBC that the OSC is probing alleged violations of the Hatch Act, a civil statue, not looking into potential criminal charges. 'If they were actually to bring a case, this is the last thing that you would think the Trump administration and Trump, himself, would want,' Weissmann said on MSNBC. Weissmann, who served on former special counsel Robert Mueller's team investigating Russian interference in the 2016 election, said he thinks Trump would take steps to avoid any public trial. 'He spent years trying to avoid, and largely being successful, avoiding any of these cases going to trial,' Weissmann said about Trump. 'And if he's going to have a trial here, that's going to be a forum for Jack Smith and people to put on the evidence that he has tried, for so long, to avoid,' Weissmann said. Former Attorney General Merrick Garland appointed Smith in November 2022 by to oversee the investigations into Trump. Smith brought charges against Trump over his efforts to subvert the 2020 election and over his handling of classified documents after leaving office. The cases have since been dismissed. Weissmann said he's not surprised the OSC opened an investigation into Smith but said he doesn't think the investigation will yield any results. He noted that judges had previously rejected allegations of selective prosecutions in Trump cases.
