CSA

Report highlights CSA member efforts to detect, disrupt and deter securities

Montréal – The Canadian Securities Administrators (CSA) today released its fiscal year 2019/20 Enforcement Report This link will open in a new window, which outlines how securities regulators are protecting investors and the integrity of Canada’s capital markets.

Highlights from the fiscal year 2019/20 Enforcement Report include:

  • 66 Investor Alerts were issued to warn the public about possible investment scams;
  • 65 individuals were banned from participating in the capital markets;
  • 95 interim cease-trade and asset-freeze orders were issued;
  • Four individuals received a combined total of 18 years and 11 months years of jail time through regulators’ support of Criminal Code case investigations;
  • 23 fraud cases were concluded, resulting in over $3 million in penalties; and
  • 291 whistleblower tips were received.

“The CSA is a vital platform for nationwide collaboration and information sharing in the enforcement of securities laws in Canada. This year’s Enforcement Report outlines how CSA members protected Canadians from those who prey on investors and undermine confidence in the capital markets,” said Louis Morisset, Chair of the CSA and President and CEO of the Autorité des marchés financiers. “Our resolve to work together was particularly critical in the last part of fiscal year 2019/20 when the COVID-19 pandemic hit and drove immense economic uncertainty. Our mission to safeguard investors and ensure that Canada’s capital markets are honest, fair and efficient has never been more important than it is today.”

Since the trading of securities and derivatives spans provincial and national boundaries, CSA members worked closely to share information, refer cases and seek assistance. This past fiscal year, members referred 91 cases to each other and provided assistance in 63 cases. They also cooperated with self-regulatory organizations in Canada, securities regulators in other countries, and law enforcement agencies in Canada and abroad.

In addition, the report outlines how the CSA enhanced its technological tools and skills to conduct investigations and better recognize and target fraudulent activity.

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 This link will open in a new window to view the Canadian Securities Administrators fiscal year 2019/20 Enforcement Report.

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For more information:

CSA member name

Point of contact

Phone number

Autorité des marchés financiers

Sylvain Théberge

514-940-2176

Alberta Securities Commission

Hilary McMeekin

403-592-8186

British Columbia Securities Commission

Brian Kladko

604-899-6713

Financial and Consumer Affairs, Authority of Saskatchewan

Shannon McMillan

306-798-4160

Financial and Consumer Services Commission, New Brunswick

Sara Wilson

506-643-7045

Government of Prince Edward Island, Superintendent of Securities

Steve Dowling

902-368-4550

Manitoba Securities Commission

Jason (Jay) Booth

204-945-1660

Nova Scotia Securities Commission

David Harrison

902-424-8586

Nunavut Securities Office

Jeff Mason

867-975-6591

Office of the Superintendent of Securities, Newfoundland and Labrador

Renée Dyer

709-729-4909

Office of the Superintendent of Securities, Northwest Territories

Tom Hall

867-767-9305

Office of the Yukon, Superintendent of Securities

Rhonda Horte

867-667-5466

Ontario Securities Commission

Kristen Rose

416-593-2336