Eastbay Asset Management, Llc

Allegations: EASTBAY AND THE MASTER FUND WERE, FOR CERTAIN PERIODS BETWEEN 2017 AND 2020, REPORTING INSIDERS OF WILDBRAIN LTD. (FORMERLY DHX MEDIA LTD.), A NOVA SCOTIA REPORTING ISSUER. DURING THESE PERIODS OF TIME, EASTBAY AND THE MASTER FUND WERE REQUIRED TO FILE EARLY WARNING AND INSIDER REPORTS REGARDING CERTAIN TRANSACTIONS INVOLVING WILDBRAIN LTD. SECURITIES. EASTBAY AND THE MASTER FUND ACKNOWLEDGE THEY VIOLATED NOVA SCOTIA SECURITIES LAWS BY NOT FILING MANY OF THESE REPORTS WITHIN THE REQUIRED TIME AND BY, IN ONE INSTANCE, TRADING WILDBRAIN LTD. SECURITIES WHEN PROHIBITED FROM DOING SO DUE TO ONE SUCH REPORT BEING OUTSTANDING. Status: Final Sanction Detail: THE PENALTIES WERE PAID AS FOLLOWS: 01/28/2022 $30,000 CAD. 02/02/2022 $37,000 CAD. Summary: EASTBAY AND THE MASTER FUND COOPERATED FULLY WITH THE COMMISSION'S INVESTIGATION. THEIR VIOLATIONS OF NOVA SCOTIA SECURITIES LAWS WERE UNINTENTIONAL, AND THEY SUCCESSFULLY IMPROVED THEIR COMPLIANCE PROGRAM SO AS TO FILE IN A TIMELY MANNER ALL INSIDER AND EARLY WARNING REPORTS DUE BETWEEN DECEMBER 18, 2019, AND JUNE 17, 2020, AFTER WHICH BOTH COMPANIES CEASED BEING INSIDERS OF WILDBRAIN LTD. THE COMMISSION APPROVED THE SETTLEMENT AGREEMENT, REPRIMANDED EASTBAY AND THE MASTER FUND, AND ORDERED EASTBAY AND THE MASTER FUND TO PAY AN ADMINISTRATIVE PENALTY OF CAD 65,000 AND PAY COSTS IN CONNECTION WITH THE INVESTIGATION AND CONDUCT OF THE PROCEEDING BEFORE THE COMMISSION IN THE AMOUNT OF CAD 2,000.