What is the appropriate penalty for a securities fraud?
Canada (Federal), Canada
The following excerpt is from Thiessen (Re), 2015 CanLII 92076 (CA MFDAC):
56. There is no need to elaborate on the recognized principles and considerations related to what is a fair and appropriate penalty. The primary goal of securities legislation is the protection of the investor as well as capital market efficiency and ensuring public confidence in the system: Pezim v. British Columbia (Superintendent of Brokers), 1994 CanLII 103 (SCC), [1994] S.C.J. 58 at paras 59 and 68.
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