Securities Commission Posts Enforcement Report

The latest report from the organization that enforces Canada's securities laws is now available from the Nova Scotia Securities Commission at www.gov.ns.ca/nssc/ .

The Canadian Securities Administrators Enforcement Activities report covers the six months ending Sept. 30, 2005.

"The report demonstrates the robust efforts of securities regulators to deter wrongdoing, protect investors, and foster fair and efficient capital markets in which investors can have confidence," said Les O'Brien, chair of the Nova Scotia Securities Commission.

The activities report shows that securities regulators across Canada pursued 49 new enforcement matters. They also closed 56 cases that resulted in sanctioning orders or settlements that often included several persons or companies.

Self-regulatory organizations overseen by the securities administrators concluded 40 cases.

The report covers cases that led to penalties imposed on five Canadian mutual fund companies, which will disburse $205.6 million to investors.

It also highlights joint hearings and joint enforcement activities, such as optionsXpress Inc. and Norshield Asset Management (Canada) Ltd.

The Canadian securities administrators group is the council of the securities regulators of Canada's provinces and territories. Its objectives are to improve, co-ordinate and harmonize regulation of the Canadian capital markets.