AMF reports on 2009 enforcement activity
On February 12, Quebec's Autorité des marchés financiers (AMF) reported on its enforcement activities for 2009. In its release, the AMF highlighted its collaborative efforts with police forces and other partners in fraud prevention and response and provided enforcement figures for the preceding year. Specifically, the AMF cited a total of 855 charges laid for violations under Quebec's Securities Act and An Act respecting the distribution of financial products and services, which led to the sanctioning of 783 individuals. Further, over $81 million in fines and penalties were assessed which, according to the AMF, represented over half of such penalties imposed in Canada.
As we noted in an earlier post, the CSA also released its 2009 enforcement report earlier this month.
