There is a little known fact – unless you make a living as a securities lawyer – that the number of regulatory settlements heavily outnumber, by a ratio of 3 to 1, the number of contested hearings at the Ontario Securities Commission and the Investment Industry Regulatory Organization of Canada.
Surprisingly, however, there is no formal process, structure or dedicated staff to facilitate them.
That is a problem, according to a study released this week by Joel Wiesenfeld and Celesse Dove. "Our conclusion is that this is a gap in the regulatory enforcement framework that needs to be filled," the authors say in The Advocate Quarterly.
Read the full article here.