Canadian Securities Administrators (CSA): 2011 Enforcement Report

The Shareholder Activist - Canadian Securities Administrators (CSA): 2011 Enforcement Report

Key highlights of the 2011 Enforcement Report:

  • 66 of the concluded cases involved illegal distributions, which represented the largest category of concluded cases.
  • 124 concluded cases involved a total of 237 individual and 128 companies that resulted in:
    -Fines and administrative penalties of more than $52 million
    -Nearly $50 million in restitution, compensation and disgorgement
    -Jail sentences against eight individuals
  • 63 interim orders restricting trading and/or freezing the assets against 109 individuals and 108 companies.
  • 126 matters commenced against a total of 231 individuals and 121 companies.
  • 47 of the 124 concluded cases were concluded by a contested hearing before a tribunal.
  • 31 appealed cases, an increasing number.

The 2011 Enforcement Report is now available.

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Posted in Featured, Shareholder Policies & Investor Regulations, Shareholder Proposals | 1 Comment

One Response to Canadian Securities Administrators (CSA): 2011 Enforcement Report

  1. Christopher Bayer, Ph.D. says:

    Response to McR’s post of June 22, 2012

    “Keeping Them Honest…..”

    It’s all about metrics. Numbers rule. They tell the story “from the inside out.” Monitoring corporate behavior yields results. “It keeps them honest.” Shareholders insist upon accountability. Metrics underscore and illuminate transparency. You can run, but you can’t hide. The numbers will haunt you and reveal your vulnerabilities. And ultimately help make things better. Numbers drive solutions!