After a flood of sharply divided reaction and months of public hearings, Canada’s top capital markets watchdog is forging ahead with a controversial U.S.-style policy that allows alleged miscreants a chance to settle cases without admitting guilt.
The Ontario Securities Commission announced Tuesday that it will adopt no-contest settlements, commonly used by its counterpart at the U.S. Securities and Exchange Commission, to speed up investigations and bolster its enforcement arsenal. The policy is a potent weapon that has helped the SEC garner an impressive enforcement record and a fierce reputation as the toughest cop on the global markets.
Theresa Tedesco – Financial Post – March 11, 2014.