The Ontario Securities Commission is accusing Peter Beck, the founder of day trading firm Swift Trade Inc., making misrepresentations to its staff.

The Ontario regulator today issued a notice of hearing alleging that when OSC staff interviewed Beck he failed to disclose that a couple of his relatives had an interest in one of Swift Trade’s primary clients. As a result, the OSC claims that the client firm was never in a traditional arms length client/dealer relationship with Swift Trade.

None of these allegations have been proven. Beck has not yet responded to a request for comment on the case.

A hearing is scheduled for January 18.

http://www.osc.gov.on.ca/Enforcement/Proceedings/ENR/enr_20071207_swifttrade
.jsp