Commission Assessed $219,000 in Administrative Fines in 2010

In its effort to protect Nova Scotian investors and capital markets, the Nova Scotia Securities Commission investigated 57 complaints and issued $219,000 in administrative penalties in 2010.

The commission also concluded ten cases against 11 defendants. Three involved illegal distributions, two cases dealt with market manipulation, four cases of registration misconduct, and a single case of conduct not in the public interest.

The figures were released today, Feb. 22 as a part of the Canadian Securities Administrators 2010 Enforcement Report. The report shows actions by Canadian securities regulators led to more than $63 million in fines and administrative penalties in 2010 from 174 cases involving 207 people and 100 companies.

"The Nova Scotia Securities Commission works hard to protect investors and build confidence in the fairness of the capital markets," said Scott Peacock, director of enforcement and compliance for the commission.

"Investors need to know that they can come to us with investment concerns and to report problems, but also that we are here as a source of education and information. The best defence for the average Nova Scotia investor is to be armed with knowledge and understanding of the capital markets."

To report a complaint to the securities commission, go to www.gov.ns.ca/nssc/compliancenforce/complaint.htm, or call 902-424-4558. For more information on investing safely and avoiding fraud, visit www.beforeyouinvest.ca.

The 2010 Enforcement Report is available on the Nova Scotia Securities Commission's website, www.gov.ns.ca/nssc, and on the Canadian Securities Administrators website, www.securities-administrators.ca .