Securities fines and clawbacks increased last year: CSA

CALGARY — Canadian securities administrators say fines and refunds have increased in the past year compared to a year earlier.

Last year, the umbrella group for provincial securities regulators says it levied $27.6 million in fines, administrative penalties and other financial penalties, up from $18.5 million a year earlier before.

Restitution, compensation and restitution for the 2023-24 year, which ended June 30, totaled $75.7 million, up from $20.9 million a year earlier.

The CSA says securities administrators issued 1,054 alerts, warnings and cautions to investors, up from 758 a year earlier, with more than half related to cryptocurrencies.

It said 64 people and 39 companies were banned from the markets, compared with 81 people and 23 companies a year earlier.

A total of 16.5 years in prison were handed down to six people, up from 5.5 years for five people a year earlier.

This report by The Canadian Press was first published on July 23, 2024.

The Canadian Press