The Alberta Securities Commission recovered a record $2 million in outstanding fines last year — nearly 10 times the amount recovered the previous year, according to its annual report released Monday.1The provincial investment regulator said it had to compel financial statements, garnishee wages and liquidate assets to collect its highest-ever amount of outstanding administrative penalties in 2013-14. The previous year it collected only $247,000, and $457,000 the year prior.
“In order to fulfil our mandate of protecting investors, effective rule-making, oversight, compliance reviews and education must be backed by rigorous and visible enforcement,” Alberta Securities Commission chairman and CEO William Rice stated in the report.
Darcy Henton- Calgary Herald – July 21, 2014.
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