Every so often this video and the accompanying comments should be posted just to remind the canon fodder.

CBC Video Exposes Ontario Securities Commission.MUST WATCH!!
This is the most important video any investor in Canada needs to watch. Ignore it at your own risk.

quoted comments



After nearly 30 years of either working inside the investment industry, or documenting the inner workings of this industry, I have reached the following fact based conclusions:

Our Canadian regulators are paid by the investment industry.
Our Canadian regulators are paid four or five times higher than our US counterparts.
We have thirteen provincial and territorial regulators in an economy the size of Texas.
Canadian regulators do less than 1/10th of the enforcement (per captia) than their US counterparts.
This is what the record shows.
In my opinion we have so many, who are paid so much, to do so little, by design. The exact purpose is to to look the other way at white collar crime in Canada and to "see no evil". This is how Canada has a sterling reputation, by hiding financial fraud so it appears as if we are clean. Not true. Not best practices.

If confirmed that our regulators are acting in a manner contrary to the public interest, then they are in breach of our criminal code (Breach of Trust), and I expect a full public inquiry into provincial securities commissions to demonstrate this. If this is not true then no one has anything to fear from a public inquiry into these regulators.
Posted by: larry elford | Nov 24, 08 07:24 PM



When you have fiancial system set up like Bay street, it reminds one of the leaving the fox to look after the chicken coop.
Posted by: Denis Price | Nov 24, 08 01:57 PM



In Canada, we have a justice system that addresses murderers and blue-collar criminals. But completely neglects white-collar criminals and corporate fraudsters. They go scot-free.

I speak from experience, having been a victim of corporate fraud.
Posted by: H. Thadaney | Nov 24, 08 02:47 PM



Well done, CBC and Evan Solomon. It's ridiculous to characterize
what amounts to government support for corporate fraud as "freedom". Naive belief in our own moral superiority has played a large part in this.
Posted by: Doris Wrench Eisler | Nov 24, 08 04:11 PM



I am a Canadian who has lived and worked in both BC and the United States. There have been numerous cases in the United States where people have been caught doing insider trading - remember Martha Stewart - and they have had to do jail time.
In Canada we not only fail to prosecute but we name bridges after them. Next time you are in Kelowna enjoy the drive over the Bill Bennett bridge.
Posted by: JimCanuck | Nov 24, 08 07:01 PM