Canadian securities regulators introduce innovative initiatives and increase collaboration to deter market misconduct

MONTRÉAL, Feb. 27, 2017 /CNW Telbec/ - The Canadian Securities Administrators (CSA) today released its 2016 Enforcement Report. The ninth annual report highlights actions taken across Canada to deter and sanction wrongdoing in the capital markets.

"In 2016, CSA members continued with efforts to deter and sanction financial wrongdoing, with two jurisdictions implementing whistleblower programs, and a third partnering with law enforcement," said Louis Morisset, Chair of the CSA and President and CEO of the Autorité des marchés financiers. "The CSA is also addressing emerging issues, for example by creating a task force with financial institutions and international regulatory counterparts to address the growing threat of binary options investing, and developing a new national market analytics software program to identify potential misconduct."

The CSA's 2016 Enforcement Report highlights the enforcement actions taken by CSA members against those who breach Canada's securities laws.

Some highlights from the 2016 Enforcement Report:

  • 39 years of jail time ordered for those committing securities-related misconduct.
  • $299 million in compensation that respondents undertook to return to investors through no-contest settlements and $51 million in restitution and disgorgement orders.
  • 120 people and 82 companies placed under interim and asset freeze orders, preventing further harm to investors.

The 2016 Enforcement Report can be viewed on the CSA's website at www.securities-administrators.ca.

The publication of this report, in advance of Fraud Prevention Month (March), helps Canadians learn ways to easily identify and avoid investment fraud. Several fraud prevention tools and resources are available on the CSA's website.

The CSA, the council of securities regulators of Canada's provinces and territories, is committed to the joint mandate of punishing and preventing misconduct in Canada's capital markets. CSA members work collaboratively to improve, coordinate and harmonize the regulation of Canada's capital markets.

                                                                                                             

Sylvain Théberge             


Nicole Tuncay

Autorité des marchés financiers


Alberta Securities Commission

514-940-2176


403-297-4008




Alison Walker


Kristen Rose

British Columbia Securities Commission


Ontario Securities Commission

604-899-6713


416-593-2336




Jason (Jay) Booth


Andrew Nicholson

Manitoba Securities Commission


Financial and Consumer Services

204-945-1660


Commission, New Brunswick



506-658-3021




David C. Harrison


Janice Callbeck

Nova Scotia Securities Commission


Office of the Superintendent of Securities

902-424-8586


P.E.I.



902-368-6288




Carl Allwood


Rhonda Horte

Office of the Superintendent of Securities


Office of the Yukon Superintendent of

Newfoundland and Labrador


Securities

709-729-2596


867-667-5466




Jeff Mason


Tom Hall

Nunavut Securities Office


Office of the Superintendent of Securities

867-975-6591


Northwest Territories



867-767-9305




Shannon McMillan



Financial and Consumer Affairs



Authority of Saskatchewan



306-798-4160



 

SOURCE Autorité des marchés financiers

For further information: Sylvain Théberge, Autorité des marchés financiers, 514-940-2176; Nicole Tuncay, Alberta Securities Commission, 403-297-4008; Alison Walker, British Columbia Securities Commission, 604-899-6713; Kristen Rose, Ontario Securities Commission, 416-593-2336; Jason (Jay) Booth, Manitoba Securities Commission, 204-945-1660; Andrew Nicholson, Financial and Consumer Services Commission, New Brunswick, 506-658-3021; David C. Harrison, Nova Scotia Securities Commission, 902-424-8586; Janice Callbeck, Office of the Superintendent of Securities, P.E.I., 902-368-6288; Carl Allwood, Office of the Superintendent of Securities, Newfoundland and Labrador, 709-729-2596; Rhonda Horte, Office of the Yukon Superintendent of Securities, 867-667-5466; Jeff Mason, Nunavut Securities Office, 867-975-6591; Tom Hall, Office of the Superintendent of Securities, Northwest Territories, 867-767-9305; Shannon McMillan, Financial and Consumer Affairs, Authority of Saskatchewan, 306-798-4160

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