Calgary, AB – The Alberta Securities Commission (ASC) and the RCMP announced (Wednesday) an enforcement partnership targeting serious violations of securities laws.
The Joint Serious Offences Team (JSOT) in Alberta investigates and prosecutes quasi-criminal cases under the Securities Act and certain securities-related criminal offences under the Criminal Code of Canada. In particular, the unit targets repeat offenders, serious frauds and breaches of ASC or court orders and bans. JSOT operates as a separate unit within the ASC Enforcement Division. ASC lawyers will continue to prosecute quasi-criminal cases while the Alberta Crown Prosecution Service, Specialized Prosecution Branch will prosecute criminal charges resulting from JSOT investigations.
“JSOT combines the ASC’s expertise in capital markets and securities investigations with the RCMP’s policing experience and access to information to investigate and prosecute serious violations of the law,” said Stan Magidson, Chair and Chief Executive Officer for the ASC. “This collaboration helps safeguard Albertans from the most serious securities offences while deterring future offenders by prosecuting lawbreakers to the fullest extent.”
“Collaboration between the RCMP and ASC provides more thorough access to information and intelligence collected provincially and through national and international networks. It creates opportunities to act on live intelligence, avoid duplication of investigations and ensure cases are prosecuted in the most appropriate forum,” said Inspector Allan Lai, Acting Officer-in-Charge of RCMP “K” Division Federal Policing South (Calgary).
The JSOT team is comprised of investigators, forensic accountants, legal professionals and RCMP officers. These dedicated resources have a broad array of investigative tools.
The ASC and RCMP gratefully acknowledge the Ontario Securities Commission and the Autorité des marchés financiers in Quebec for sharing their expertise during the creation of Alberta’s JSOT unit.
The ASC is the regulatory agency responsible for administering the province’s securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada’s capital markets.
The RCMP Federal Policing’s Financial Integrity Program contributes to the security of the Canadian economy and seeks to protect Canadians and their governments from financial crimes perpetrated by organized crime and others. The Financial Integrity Program is delivered in partnership with international and domestic government agencies, domestic stakeholders and the community at large.