OSC releases 2013 enforcement results

March 21, 2014

The Ontario Securities Commission today announced the results of its enforcement program for 2013. Over the course of the last calendar year, the OSC commenced 27 proceedings, including nine for fraud and six for illegal distributions. The OSC also concluded proceedings against 170 individuals and companies, with 95 being concluded through settlement agreements and 71 through hearings before the tribunal. Only four were the subject of court proceedings.

In terms of monetary sanctions, the OSC imposed administrative penalties and sanctions of just under $15 million in 2013, about $40 million in disgorgement and $3 million in costs , for a total of just over $58 million.

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