scod,
I agree with your points, although I don't share your opinion that this doesn't happen without the consent of the company involved.
IF the Exchange ever took action, it would be so late it would not matter anyway. Look at Frank Dunn just getting arrested now for what he pulled at NT! And why isn't CEO of the Year John Roth in the crowbar motel? Canadian securities policing is worse than American securities policing.
Cheers,
Bluenoser