February 27, 2017 Securities CSA

Montréal - The Canadian Securities Administrators (CSA) today released its 2016 Enforcement Report. The ninth annual report highlights actions taken across Canada to deter and sanction wrongdoing in the capital markets.

“In 2016, CSA members continued with efforts to deter and sanction financial wrongdoing, with two jurisdictions implementing whistleblower programs, and a third partnering with law enforcement,” said Louis Morisset, Chair of the CSA and President and CEO of the Autorité des marchés financiers. “The CSA is also addressing emerging issues, for example by creating a task force with financial institutions and international regulatory counterparts to address the growing threat of binary options investing, and developing a new national market analytics software program to identify potential misconduct.”

The CSA’s 2016 Enforcement Report highlights the enforcement actions taken by CSA members against those who breach Canada’s securities laws.

Some highlights from the 2016 Enforcement Report:

• 39 years of jail time ordered for those committing securities-related misconduct.
• $299 million in compensation that respondents undertook to return to investors through no-contest settlements and $51 million in restitution and disgorgement orders.
• 120 people and 82 companies placed under interim and asset freeze orders, preventing further harm to investors.

The 2016 Enforcement Report This link will open in a new window can be viewed on the CSA’s website at www.securities-administrators.ca This link will open in a new window.

The publication of this report, in advance of Fraud Prevention Month (March), helps Canadians learn ways to easily identify and avoid investment fraud. Several fraud prevention tools and resources are available on the CSA’s website.

The CSA, the council of securities regulators of Canada’s provinces and territories, is committed to the joint mandate of punishing and preventing misconduct in Canada’s capital markets. CSA members work collaboratively to improve, coordinate and harmonize the regulation of Canada's capital markets.

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