Canadian Securities Administrators increase digital presence in fight against securities misconduct: Fiscal Year 2018/19 Enforcement Report

2019/46
June 26, 2019

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.

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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
Ontario Securities Commission
416-593-2336
  

Hilary McMeekin
Alberta Securities Commission
403-592-8186

Sylvain Théberge
Autorité des marchés financiers
514-940-2176

Brian Kladko
British Columbia Securities Commission
604-899-6713
  

Jason (Jay) Booth
Manitoba Securities Commission
204-945-1660

Sara Wilson
Financial and Consumer Services
Commission, New Brunswick
506-643-7045
  

Shannon McMillan
Financial and Consumer Affairs
Authority of Saskatchewan
306-798-4160

David Harrison
Nova Scotia Securities Commission
902-424-8586

Steve Dowling
Government of
Prince Edward Island,
Superintendent of Securities
902-368-4550

Renée Dyer
Office of the Superintendent
of Securities, Newfoundland and Labrador
709-729-4909

Tom Hall
Office of the Superintendent
of Securities, Northwest Territories
867-767-9305

Rhonda Horte
Office of the Yukon Superintendent
of Securities
867-667-5466  

Jeff Mason 
Nunavut Securities Office 
867-975-6591

 

 


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