A top executive at China Petrochemical Corp’s Canadian unit, Sinopec Daylight Energy, was charged on Monday with alleged insider trading by the Alberta Securities Commission, The Wall Street Journal reported. The allegations against CEO Anthony Lambert stem from when China Petrochemical, also known as Sinopec Group, acquired Calgary-based oil and gas company Daylight Energy in 2011 for US$2.14 billion. Lambert denies the charges and announced plans to contest them in a statement. “I disagree with the allegations and intend to contest them. I complied with Daylight’s corporate trading policies in every respect, and made stringent efforts to ascertain that all trades were permissible in advance,” he said.
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