August 12, 2014
Market players and other organizations have been a part of the ongoing conversation around the state of securities regulation in Canada, including with respect to whether the current assembly of regulatory bodies can be improved to more effectively enforce rules that protect investors from white-collar fraud. Partner John Fabello provides his perspective in a National Post article on the subject. Below is an excerpt of the article.
John Fabello, a veteran securities lawyer and partner at Torys LLP in Toronto, agreed that Canada would benefit from a national enforcement agency to focus on investment fraud.
"Our current patchwork of regulators ... creates unintended gaps in enforcement," he said.
"The most sophisticated of fraudsters count on and exploit gaps in any regulatory system."
Despite earlier calls for a national-enforcement agency to combat white-collar crime, the focus in Canada has been on efforts to bring all capital markets activity under a single national regulator. Some market participants suggest that is the most logical course, rather than separating financial crimes enforcement from other regulatory functions.
To read the full article, click here.