CSA report shows fines more than doubled in 2015

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Canada’s securities commissions imposed $250-million in fines and compensation orders against wrongdoers last year, more than doubling the previous year’s total as regulators moved more aggressively to try to deter criminals and assist fraud victims. The Canadian Securities Administrators, an umbrella group for Canada’s provincial securities commissions, will release its annual enforcement report for 2015 on Tuesday, showing that fines and penalties imposed across the country last year totalled $138-million, up from $58-million in 2014. Orders for restitution and “disgorgement” of ill-gotten gains totalled a further $112-million, an increase from just $66-million in 2014. The $250-million total for 2015 is more than double the $124-million in fines and restitution imposed in 2014, and reflects a desire to send a strong signal of deterrence, said CSA chairman Louis Morisset.

By: Janet McFarland
Read the full article at The Globe and Mail.