Skip to main content

Neil Gillman Comment On Regulatory Notice 21-19

Neil Gillman

While putting out notices is a (small) step in the right direction, the punishment needs to fit the crime. The current penalties for the majority of already fraudulent, illegal or criminal market activities are fines which represent a minute fraction of the profit gained by perpetuating them. As such, any enforcement (on the rare occasions enforcement actions are even taken) simply represents the "cost of doing business" for the institutions and organizations committing the offences. Such a system needs extreme change, particularly when at this time there is an overwhelming sentiment by the greater public that free and fair markets simply do not exist within the current landscape.