June 26, 2019
Canadian Securities
Administrators increase digital presence in fight against securities misconduct:
Fiscal Year 2018/19 Enforcement Report
Securities regulators detect,
disrupt and deter securities misconduct amid emerging technologies and threats
Montreal – 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:
Stephanie Ronson
Edelman
647-252-2856
stephanie.ronson@edelman.com
For other media inquiries, please refer to the list of provincial and territorial representatives below or contact us at media@acvm-csa.ca.
For more information:
Kristen Rose |
Brian Kladko |
Hilary McMeekin Alberta Securities Commission 403-592-8186 |
Sylvain Théberge |
Jason (Jay) Booth |
Sara Wilson |
David C. Harrison |
Steve Dowling |
Rene Dyer |
Rhonda Horte |
Jeff Mason |
Tom Hall |
Shannon McMillan |
|