first_imgIn its effort to protect Nova Scotian investors and capital markets, the Nova Scotia Securities Commission investigated 67 complaints and issued $632,500 in administrative penalties in 2009. The commission concluded nine cases against 10 defendants that included one disclosure violation, six cases involving registration misconduct, and two cases of conduct not in the public interest. The figures were released today, Feb. 1, as a part of the Canadian Securities Administrators 2009 Enforcement Report. The report shows actions by Canadian securities regulators resulted in more than $153 million in fines and administrative penalties against individuals and companies in 2009, compared with $12.5 million in 2008. Because of the inter-provincial nature of capital markets, proceedings and prosecutions in other provinces have an impact on Nova Scotia markets and investors. “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/compliance for the commission. “Moving forward, we need to ensure that Nova Scotians are aware of our role in the enforcement process, and know how to reach us if they have a securities-related complaint.” A recent national survey showed that 41 per cent of Nova Scotians said they have been approached with some form of investment fraud, but less than a third actually reported it. When asked who they would report the incident to, 63 per cent indicated the RCMP and 37 per cent said local police. Only 17 per cent said they would go to a financial regulator. Many securities violations are not criminal, and therefore not in the jurisdiction of criminal authorities. To report a complaint to the securities commission, go to, or call 902-424-4558. The 2009 Enforcement Report highlights enforcement activities and provides data and case summaries from the Canadian securities regulators. It is available on the Nova Scotia Securities Commission’s website,, on the CSA website,, as well as the websites of various CSA members.last_img read more