OSC Chairman Wants 'Specialized' Teams of Prosecutors

There may be more opportunities coming for securities attorneys interested in government service.

Ontario Securities Commission Chairman David Wilson says Canada should create specialized teams of prosecutors from securities law experts so more cases can be successfully prosecuted. Speaking to the Economic Club of Toronto, Wilson said the government needs to bolster its enforcement record, and backed the idea of creating a single Canadian securities regulator, the Globe and Mail reports.

Wilson said the largest provinces should create specialized teams of prosecutors to focus on market crimes; developing ways for regulators, police and prosecutors to cooperate more effectively; and for officials to explore allowing the RCMP to compel evidence from witnesses during securities probes, the newspaper says. Currently, investigators from provincial securities commissions can question witnesses in such crimes, but not police.

Wilson said a national regulator would provide "a concentration of expert resources, a greater depth of resources in one entity."