News Release

Montréal - The Canadian Securities Administrators (CSA) released their fifth report on enforcement activities today. Between April 1, 2006 and September 30, 2006, the regulators pursued 57 new enforcement matters.  They also concluded 59 cases that resulted in sanctioning orders or settlements that often included several persons or companies. During the same period, self-regulatory organizations concluded 13 settlement agreements, and ordered sanctions in 17 cases, including one expulsion.

Jean St-Gelais, CSA Chair, said that "this report allows for greater transparency of the measures taken by the Canadian securities regulatory authorities and confirms their active participation in the application of the law."

The report can be found on the CSA website, at www.csa-acvm.ca, and on many provincial regulators' websites.

The CSA, the council of securities regulators of Canada's provinces and territories, coordinate and harmonize regulation for the Canadian capital markets. Their mandate is to protect investors from unfair or fraudulent practices through regulation of the securities industry. Part of this protection is educating investors about the risk, responsibilities and rewards of investing.

For media inquiries:

Provincial and Territorial Securities Regulators