In an interview in which he was asked for his thoughts about financial and professional sanctions imposed by the Ontario Securities Commission in a recent illegal insider trading case, securities litigator Bill Pepall noted that it demonstrates how seriously regulators are taking insider trading cases, even when only small amounts of money are involved. He also points out that in addition to these severe regulatory penalties, insiders engaged in prohibited trading or tipping are also at risk of additional civil liability, a risk that is discussed less often in the industry.