In April, 2017, the Ontario Securities Commission revealed allegations (which have been not proven) that Home Capital Group Inc. and three of its executive officers at the time made materially misleading disclosures for 2014 and in 2015. Why did it take two years for the OSC to make public its allegations of failed disclosure while shareholders traded on information that the OSC now alleges was misleading? Home Capital’s financial businesses, Home Trust and Home Bank, are federally supervised by the Office of Superintendent of Financial Institutions and the Canada Deposit Insurance Corporation. Presumably they were on Ottawa’s watchlist, but depositors and investors were not aware. At the start of 2015, Home Capital’s shares traded around $42 per share are are now at $6 (May 8, 2017). So where where the regulators – what did they know and when?