TORONTO, Jan. 18, 2012 /CNW/ - The Ontario Securities Commission (OSC) today published information regarding the Commission's authority to impose monetary sanctions and an update on how the collection of those sanctions has proceeded.
The Commission has had the authority since 2005 to impose monetary sanctions on both individuals and companies for violations of Ontario securities law or for conduct that is contrary to the public interest. These monetary sanctions, which include administrative penalties and disgorgement orders, are in addition to the protective orders that the Commission has always imposed, such as temporary or permanent bans on the conduct of individuals and companies in the capital markets.
The OSC makes every effort to enforce the monetary sanctions and protective orders imposed by the Commission. The collection of monetary sanctions remains a challenge for securities regulators and OSC staff continue to look for ways to improve the collection of monies owed to the Commission. In this regard, the OSC published today a list of respondents who are delinquent in the payment of the monetary sanctions ordered against them by the Commission.
For further information:
For Media Inquiries:
Director, Communications & Public Affairs
Manager, Public Affairs
Media Relations Specialist
For Investor Inquiries:
OSC Contact Centre
1-877-785-1555 (Toll Free)