As quoted: The B.C. government is giving two regulators more teeth to tackle some white-collar crimes in the province, bringing in the power of the courts to enforce fines against investor fraud.
But broader changes that would address the inability of the B.C. Securities Commission to collect on hundreds of millions of dollars in unpaid fines are still under consideration.
On Monday, the provincial government introduced amendments to the Securities Act that will allow two national regulators, the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association, to enforce penalties as court orders against investment dealers who wrong investors.