CSA jails 7 in 2012

The Canadian Securities Administrators (CSA) today released its fifth annual Enforcement Report that outlines how securities regulators are actively working to protect investors and the integrity of Canada’s capital markets. As securities fraud can cause tremendous harm to investors and Canada’s capital markets, this year’s report highlights the CSA’s fraud enforcement efforts.

By Staff | February 21, 2013 | Last updated on February 21, 2013

1 min read

The Canadian Securities Administrators (CSA) put 7 people behind bars and ordered more than $120 million in restitution last year, according to the regulator’s Enforcement Report for 2012.

Key highlights of the report include:

10 (7%) of the concluded cases were in the fraud category and involved 33 individuals and 33 companies.
135 concluded cases involved a total of 206 individuals and 116 companies that resulted in:
- Fines and administrative penalties of almost $37 million.
- More than $120 million in restitution, compensation and disgorgement.
- Jail sentences against seven individuals.
- Concluded matters against 185 respondents following a contested hearing, 74 respondents by settlement agreement and 63 respondents by court decision.
- 145 matters commenced against a total of 242 individuals and 146 companies.
- 56 interim orders and asset freeze orders were issued against 87 individuals and 77 companies.

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