The Ontario Securities Commission has ordered 189 officers, directors and other insiders of Nortel Networks to stop trading the company’s stock.

The administrative order issued Monday does not suggest any wrongdoing by the insiders.

The OSC issued the cease-trade order because of Nortel’s accounting problems.

The order is temporary. A hearing is set for April 10 to determine if it should be extended.

Those covered by the order include new CEO Mike Zafirovski, who joined Nortel last year.

On March 10, Nortel announced it would have to restate financial results for 2003, 2004 and the first nine months of 2005. The company said its financial statements were not reliable because revenue had been recognized in the wrong periods.

That put Nortel in violation of Ontario securities law because it didn’t have valid financial statements, the OSC said.

“It would be prejudicial to the public interest to allow the respondents to trade in securities … until such time as the disclosure required by Ontario securities law has been made,” the statement of allegations by commission staff said.

Nortel will also have to file financial updates every two weeks until it’s up to date with its reports.