CANADA: Canadian Securities Regulators Collaborate to Protect Investors and Enforce Securities Law

Wednesday June 24 2020

On 23^rd June, the Canadian Securities Administrators (CSA) released its fiscal year 2019/20 Enforcement Report, which outlines how securities regulators are protecting investors and the integrity of Canada’s capital markets.

Highlights from the fiscal year 2019/20 Enforcement Report include:

• 66 Investor Alerts were issued to warn the public about possible investment scams;
• 65 individuals were banned from participating in the capital markets.
• 95 interim cease-trade and asset-freeze orders were issued.
• Four individuals received a combined total of 18 years and 11 months years of jail time through regulators’ support of Criminal Code case investigations.
• 23 fraud cases were concluded, resulting in over $3 million in penalties; and
• 291 whistle blower tips were received.

Since the trading of securities and derivatives spans provincial and national boundaries, CSA members worked closely to share information, refer cases and seek assistance. This past fiscal year, members referred 91 cases to each other and provided assistance in 63 cases.

In addition, the report outlines how the CSA enhanced its technological tools and skills to conduct investigations and better recognize and target fraudulent activity.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

Click on the above link for further information.