Securities regulators detect, disrupt and deter securities misconduct amid emerging technologies and threats
MONTREAL, June 26, 2019 /CNW/ - The Canadian Securities Administrators (CSA) today released its fiscal year 2018/19 Enforcement Report, which outlines how securities regulators are protecting investors and the integrity of Canada's capital markets.
The report highlights the cross-jurisdictional collaboration and investments in technology that have enabled CSA members to detect and deter misconduct amid the emergence of new technologies and threats.
"As our world becomes increasingly digital, enforcement of securities laws must also evolve," said Louis Morisset, Chair of the CSA and President and CEO of the Autorité des marchés financiers. "This year's Enforcement Report shows that by deploying sophisticated investigative tools and techniques and by continuing to strengthen our connections – with each other, global enforcement partners and other regulators – we are keeping pace with emerging trends in Canada's capital markets."
Recognizing that securities misconduct goes beyond borders, CSA members continued to strengthen efforts to collaborate with each other and securities regulators in other countries by sharing best practices and aligning on enforcement priorities. This included advancing the multijurisdictional response to emerging pump-and-dump threats as part of the Cross-Border Market Fraud Initiative and hosting global representatives at the annual Insider Trading and Market Manipulation Conference.
The CSA also continued the development of a data repository and analytics system that will help CSA members improve efficiencies and identify market misconduct faster and earlier.
Highlights from the fiscal year 2018/19 Enforcement Report include:
- 42 cases involving collaboration between CSA member jurisdictions;
- 100 cease-trade and asset-freeze orders issued;
- 63 individuals banned from participating in the capital market;
- 12 offenders received a combined 36 years of jail time under the Criminal Code; and,
- 46 Investor Alerts issued to warn the public about possible investment scams.
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 here to view the Canadian Securities Administrators fiscal year 2018/19 Enforcement Report.
For Investor inquiries, please refer to your respective securities regulator. You can contact them here.
For media inquiries about the 2018/19 CSA Enforcement Report, contact:
For other media inquiries, please refer to the list of provincial and territorial representatives below or contact us at [email protected].
SOURCE Canadian Securities Administrators
For further information: Kristen Rose, Ontario Securities Commission, 416-593-2336; Sylvain Théberge, Autorité des marchés financiers, 514-940-2176; Jason (Jay) Booth, Manitoba Securities Commission, 204-945-1660; Shannon McMillan, Financial and Consumer Affairs, Authority of Saskatchewan, 306-798-4160; Steve Dowling, Government of Prince Edward Island, Superintendent of Securities, 902-368-4550; Tom Hall, Office of the Superintendent of Securities, Northwest Territories, 867-767-9305; Jeff Mason, Nunavut Securities Office, 867-975-6591; Hilary McMeekin, Alberta Securities Commission, 403-592-8186; Brian Kladko, British Columbia Securities Commission, 604-899-6713; Sara Wilson, Financial and Consumer Services Commission, New Brunswick, 506-643-7045; David Harrison, Nova Scotia Securities Commission, 902-424-8586; Renée Dyer, Office of the Superintendent of Securities, Newfoundland and Labrador, 709-729-4909; Rhonda Horte, Office of the Yukon Superintendent of Securities, 867-667-5466