Canadian Securities Regulators Release Report on Enforcement Activities for 2008

    VANCOUVER, Jan. 29 /CNW/ - The Canadian Securities Administrators (CSA)
today issued its annual report on enforcement activities. During calendar year
2008, CSA members commenced 215 matters against 416 individuals and companies,
and concluded 123 cases involving 322 individuals and companies that resulted
in monetary sanctions and orders towards costs totalling approximately $14
    "CSA members work to deliver responsive, collaborative and effective
enforcement that provides protection to investors and builds confidence in the
fairness of the capital markets," said Jean St-Gelais, CSA Chair and President
and CEO of the Autorité des marchés financiers. "This report represents the
significant efforts of enforcement staff, as well as commission panels, over
the last year in litigating and adjudicating breaches of securities laws
across Canada."
    CSA members and the courts also:

    -   issued 92 interim orders restricting trading by 168 individuals and
        112 companies to provide protection to investors while investigations
        were ongoing;
    -   issued 90 reciprocal orders, prohibiting companies and individuals
        who had been sanctioned in one jurisdiction from operating in another
        province or territory;
    -   ordered respondents to disgorge almost $15.8 million as a result of
        failure to comply with, or contravention of, securities laws;
    -   concluded 28 court proceedings;
    -   concluded 40 cases by way of settlement agreements;
    -   concluded 55 contested hearings before commission tribunals; and
    -   ordered jail terms for six individuals ranging from six months to
        eight and a half years.

    The 2008 Enforcement Report highlights enforcement activities across the
CSA and provides statistical data and case summaries that illustrate the
enforcement work conducted by CSA members. The Report is available on the CSA
website at, as well as the websites of various CSA members.

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

For further information:

For further information: Andy Poon, British Columbia Securities
Commission, (604) 899-6880; Ainsley Cunningham, Manitoba Securities
Commission, (204) 945-4733; Cathy Beauséjour, Autorité des marchés financiers,
(514) 395-0337 ext. 2347; Wendy Connors-Beckett, New Brunswick Securities
Commission, (506) 643-7745; Carolyn Shaw-Rimmington, Ontario Securities
Commission, (416) 593-2361; Natalie MacLellan, Nova Scotia Securities
Commission, (902) 424-8586; Mark Dickey, Alberta Securities Commission, (403)
297-4481; Barbara Shourounis, Saskatchewan Financial Services Commission,
(306) 787-5842; Mark Gallant, Department of the Attorney General, Prince
Edward Island, (902) 368-4552; Doug Connolly, Financial Services Regulation
Div., Newfoundland and Labrador, (709) 729-2594; Fred Pretorius, Yukon
Securities Registry, (867) 667-5225; Louis Arki, Nunavut Securities Office,
(867) 975-6587; Donn MacDougall, Northwest Territories Securities Office,
(867) 920-8984

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890