It’s a long list, but south of the border there are fewer excuses and more action. Adjusted to reflect the market size in each jurisdiction, the Indiana University report revealed that between 1995 and 2005, the SEC prosecuted 10 times more cases and, in the specific area of insider trading violations, 20 times more cases than the OSC.

Hmmmph. I've yet to see any action AT ALL from the SEC in prosecuting massive fraud in the mortgage backed securities market. To quote Karl Denninger "where are the indictments?" The SEC puts on a good show (ask Martha) but if you're too big to fail, then you're too big to jail, and that just about sums it up.

As for sanctions, if I defraud you of 100M, and pay a fine of say 20M, well that's just the cost of doing business, isn't it? Maybe the OSC should adopt that model? Looks good on paper at least.

Now let's have a comparison of Canadian banking regulation to what passes for such in the USA.

ebear