No-contest settlements proposed by Canada’s largest securities regulator are “wrong in principle” and “would make a complete mockery of the enforcement process,” declared a former director of enforcement.
Michael Watson, a special adviser to the RCMP’s Integrated Markets Teams, wrote in a three-page submission to the Ontario Securities Commission that “public admissions of misconduct are a powerful deterrent” in policing the capital markets.
Theresa Tedesco – Financial Post – December 20, 2011.
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