Following a review, the Ontario Securities Commission has widened its temporary crease-trading order beyond the officers and directors of Cinar Corp. to prohibit all trading in shares of Cinar. The osc will review Cinar’s failure to meet its statutory filing obligations at a meeting June 30.

In its latest fortnightly update, Cinar says it has requested and been granted a hearing with nasdaq to explain the delay in filing its ’99 financial statements. The hearing is slated for mid-July in Washington, d.c., and immediately stays a potential delisting by nasdaq.

It has taken Cinar and its advisors longer than expected to identify the full extent of past productions which do not qualify for the Canadian content tax credit. Apparently new ones are still turning up, and this remains one of the principal reasons for the company’s failure to meet its reporting obligations.