Enforcement Effectiveness in the Canadian Capital Markets
Capital Markets Institute, Forthcoming
29 Pages Posted: 6 Jul 2012 Last revised: 30 Oct 2013
Date Written: December 1, 2005
Abstract
This paper focuses on the fundamental principles underlying effective enforcement by regulators. In particular, this paper analyzes the critical role of the criminal law and judges in effectively addressing capital markets misconduct. It also analyzes how securities regulators can best structure the wide discretion that is afforded to them in designing enforcement strategies and policies that are effective, fair, transparent and accountable. This study also examines the current allocation and division of enforcement responsibilities in respect of the capital markets amongst the numerous entities involved and explores contentious issues related to the current overlapping and concurrent jurisdiction. Finally, this study examines the issue of data and in particular, data comparisons on enforcement effectiveness with the United States.
Keywords: canadian, capital market, criminal law, misconduct, securities
JEL Classification: K14, K20, K22, K23, K41, K42
Suggested Citation: Suggested Citation