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SLIDE PRESENTATION ON CANADA’S SECURITIES ENFORCEMENT AND JUSTICE SYSTEM

SLIDE PRESENTATION ON CANADA’S SECURITIES ENFORCEMENT AND JUSTICE SYSTEM. By Diane Urquhart To Standing Committee on Finance and Economic Affairs August 18, 2004 3 P.M. . SELF-REGULATORS. REGULATORS. CANADA’S SECURITIES ENFORCEMENT & JUSTICE SYSTEM. POLICE. COURTS.

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SLIDE PRESENTATION ON CANADA’S SECURITIES ENFORCEMENT AND JUSTICE SYSTEM

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  1. SLIDE PRESENTATION ONCANADA’S SECURITIES ENFORCEMENT AND JUSTICE SYSTEM By Diane Urquhart To Standing Committee on Finance and Economic Affairs August 18, 2004 3 P.M.

  2. SELF-REGULATORS REGULATORS CANADA’S SECURITIES ENFORCEMENT & JUSTICE SYSTEM POLICE COURTS

  3. CANADA’S INSTITUTIONAL STRUCTURE OSC RECOL QSC ARBITRATION TSXV TSX MRS IDA MFDA BCSC COMMERCIAL CRIME RCMP IMETS ASC ONTARIO SUPERIOR COURT OF JUSTICE ONTARIO SMALL CLAIMS COURT OPP COMMERCIAL CRIME SFSC MSC OBSI NBSC LOCAL POLICE FRAUD SQUAD NSSC ONTARIO COURTOF JUSTICE PEISO NLSC NWTRS YTRS POLICE SELF-REGULATORS NRS COURTS REGULATORS

  4. CANADA’S STATUTES, RULES & PROCEDURES ARBITRATION MRS RULES IDA RULES ONTARIO BUSINESS CORPORATIONS ACT CANADA BUSINESS CORPORATIONS ACT ONTARIO SMALL CLAIMS COURT ONTARIO SUPERIOR COURT OF JUSTICE ONTARIO COURTOF JUSTICE SA - RSO FEDERAL CRIMINAL CODE QSA SA - SBC MFDA RULES SA -RSA PROCEDURES PROCEDURES SA - SS SA -RSM SA - RSNB SA - RSNS TSX RULES SA - RSPEI PROVINCIAL COMPANY ACTS SA - RSN TSXV RULES SA - RSNWT ??? SA - RSYT COMMON LAW NSA PROCEDURES

  5. MISCONDUCT & RESTITUTION RCMP/ OPP/ LOCAL POLICE ONTARIO COURTOF JUSTICE ONTARIO COURTOF JUSTICE ONTARIO SUPERIOR COURT OF JUSTICE OSC STAFF OSC COMMISSIONER PANEL $$$

  6. Source: Charles Rivers Associates Study, The Effect of Multiple Regulators, October 21, 2003

  7. BYZANTINE JUSTICE FOR INVESTOR VICTIMS

  8. Source: Charles Rivers Associates Study, The Effect of Multiple Regulators, October 21, 2003

  9. IPSOS REID Stakeholders Satisfaction Study July 2004 Stakeholders' Relationship and Purpose of Contact With OSC Reporting Inquiries Line General Registrants Issuers Users Public Number Respondents 600 302 300 300 Why d id you contact the OSC? Information/research purposes(General) 32% Clarify a rule or regulation 16% Complaint/concerns against/about institution /company 9% Registration/license 8% Question regarding an investment 6% Question regarding SEDI 6% Awareness of any organization responsible for regulating the capital markets in Ontario? 27% What is the name of the organization responsible for regulating the capital markets in Ontario? 19% Have you ever contacted the OSC? 2% Ha ve you ever been to the OSC website? 4%

  10. Source: Investment Funds Institute Monthly Statistics

  11. Source: Statistics Canada

  12. Source: OSC and SEC Websites

  13. OSC Complaints Received(Fiscal Year runs from April 1st - March 31st) Source: OSC Website

  14. Source: Charles Rivers Associates Study, The Effect of Multiple Regulators, October 21, 2003

  15. Broker: James Donald Bruce Employer: BMO Nesbitt Burns IDA Allegations: Misappropriation of Client Funds Forgeries of Client Signatures Changing Client’s Mailing Address Without Consent IDA Settlement: James Bruce undertakes to leave industry and to never re-apply IDA makes no referral to the RCMP, Local Police or OSC. Broker: Paul Alexander Bishop Employer: CFG Financial Group Inc. IDA Allegations: Misappropriation of Over $182,000 of Client Funds 10 Other Breaches of IDA Bylaws IDA Settlement: Permanent ban from registration with the IDA Fines and costs of $450,000 IDA makes no referrral to the RCMP, Local Police or OSC IDA CRIMINAL CASES NOT SENT TO RCMP OR OSC FOR PROSECTUION Source: IDA Enforcement Cases on IDA Website

  16. Source: Charles Rivers Associates Study, The Effect of Multiple Regulators, October 21, 2003

  17. Source: Charles Rivers Associates Study, The Effect of Multiple Regulators, October 21, 2003

  18. Source: Charles Rivers Associates Study, The Effect of Multiple Regulators, October 21, 2003

  19. Source: Charles Rivers Associates Study, The Effect of Multiple Regulators, October 21, 2003

  20. Source: National Post, Spitzer: More Regulatory Bang For The Buck, May 29, 2004

  21. OSC ENFORCEMENT REPORT CARD

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