This week, the Canadian Securities Administrators issued their second annual Enforcement Report. If you are interested in finding out more about how we enforce securities regulations across Canada, it is a must read.
We put together this annual report because we want Canadians to understand the role we play in protecting investors.
We want them to know that we have many ways to protect investors. For example, the tools we use to disrupt and stop illegal activity. Take freeze orders. We use this power to disrupt a fraudulent activity by freezing the assets. Over the past four years, we have helped to return over $20 million previously frozen assets to investors and victims of fraud.
Cease trade orders. We can use these orders to protect investors by stopping a potentially illegal activity while an investigation is underway.
We issue halt trades to address suspicious market conditions by stopping trading. We issue reciprocal orders to protect BC investors from doing business with people who have carried out misconduct in other parts of Canada.
These are just some of the tools we use to disrupt and stop fraudulent activity.
My main message is that we can’t use these tools if we don’t know there’s a problem. Reporting to us, either through our inquiry line or online, is often the only way we find out. Sometimes it is easier for friends and family to report than the person directly involved in a suspicious investment.
In any event, we urge you to spread the word to talk to us even it you aren’t sure that something illegal is going on. It is better to be safe than sorry, to use that old cliché.
Click on Let’s talk about investing to read other blogs on this topic and others.
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