Canada’s regulators will continue the practice despite low success rate
It seems that the efforts of Canada’s securities regulators to recoup unpaid penalties by publicly shaming offenders has not been a great success.
In the past five years, two regulators have begun naming and shaming those who violate provincial regulations, but the results are disappointing.
The OSC has named 432 in 5 years with just 13 paying what they owe and 3 entering into payment plans. Alberta’s regulator has collected from just 8 with a total $525,000 the Canadian Press reports.
The report also shows that British Columbia has seen a rise of 122 names in the past five years but just 59 being added to the list of those who have paid.
Quebec does not currently have a ‘shaming’ section of its website but is considering how doing so may be of benefit to investors.
In the past five years, two regulators have begun naming and shaming those who violate provincial regulations, but the results are disappointing.
The OSC has named 432 in 5 years with just 13 paying what they owe and 3 entering into payment plans. Alberta’s regulator has collected from just 8 with a total $525,000 the Canadian Press reports.
The report also shows that British Columbia has seen a rise of 122 names in the past five years but just 59 being added to the list of those who have paid.
Quebec does not currently have a ‘shaming’ section of its website but is considering how doing so may be of benefit to investors.
