Decision in brief: Ontario Securities Commission v Tam, Enforcement Proceeding, Settlement, November 04, 2025

In this enforcement case, the OSC says that Jessica Tam broke Ontario securities law by doing some insider trading.

Tam was a friend of Thi Anh Nguyet Pham and knew Pham’s husband, Huy Le Huynh. While Huynh was VP Finance at Score Media & Gaming Inc, a digital media sports company, he found out that Score was going to be bought by Penn National Gaming Inc. This information wasn’t public yet, but he involved Tam in a plan to profit from the news. Huynh told Tam what Score securities to buy and sell and when to do so. Their profit was about $390,000. Tam paid Huynh part of the profits and worked with Huynh and Pham to organize the payments.

Tam and the OSC agreed to settle the case. In this hearing, the Tribunal found that the proposed settlement was reasonable and in the public interest and approved the settlement agreement.

As a result, Tam cannot participate in Ontario’s capital markets (with some exceptions) for a period of two years. She has disgorged (given up) $120,000 to the Commission. In another proceeding against Huynh, he disgorged the remaining $270,000.