Wide-ranging actions included disrupting ongoing and illegal activity and enhancing technology and analytics capabilities to tackle evolving threats and emerging trends.
The Canadian Securities Administrators (CSA) today released its fiscal year 2021-2022 Enforcement Report, which outlines the specific actions that CSA members undertook in the past year to detect, disrupt and deter wrongdoing and hold securities law violators accountable.
Highlights from the fiscal year 2021-2022 Enforcement Report include:
- 236 Investor Alerts warned the public about potential harmful or illegal activity;
- 61 interim cease-trade and asset-freeze orders issued;
- 59 matters commenced involving 139 respondents;
- 14 crypto-related matters where the CSA took action in pursuit of clarifying and enhancing regulation;
- 44 individuals and 13 companies banned from participating in the capital markets; and,
- 7 individuals received a combined total of 15.4 years of jail terms for criminal and quasi-criminal cases.
“This year’s Enforcement Report highlights how CSA members collaborated with each other and with regulators around the world to take action against securities misconduct, protect investors, and strengthen the integrity of our capital markets,” said Louis Morisset, Chair of the CSA and President and CEO of the Autorité des marchés financiers. “We pursued activities to disrupt ongoing and potential illegal activity and enhance our market analytics capacity to support our investigations and tackle sophisticated and evolving threats. I’d like to thank the hard-working and determined staff from CSA member jurisdictions who work tirelessly to identify wrongdoing and hold securities law violators accountable.”
To continue to reinforce confidence in the markets, CSA members coordinated efforts to increase the efficiency and impact of our enforcement activities. This included improving our technological capabilities and pursuing enforcement action against wrongdoers in emerging areas, including crypto assets. Our initiatives included enhancing our techniques to research and analyze crypto asset trading, developing a reference framework to establish digital forensic laboratories in a cloud-based environment, further enhancing the speed and efficiency of the CSA’s Market Analysis Platform to detect suspicious trading activity and analyze market abuse, and conducting training on novel technology and analytics issues.
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 2021-2022 Enforcement Report.
Source: Ontario Securities Commission