RE: canadian securities administrators
here is the response i got from one of the emails: gotta love the first paragraph.....they have no idea that this is even going on.
Thank you for contacting us regarding naked short selling. Naked short sales are not prohibited in Canada and do take place on the TSX and TSX Venture exchanges.
Security dealers are responsible to ensure that their clients are trading in accordance with the trading rules. Securities dealers check a variety of trading summary reports each day to ensure compliance with those trading rules. If a client is found to be trading in violation of the trading rules, the dealer reports those violations to the British Columbia Securities Commission for review and any warranted disciplinary action. Investment Industry Regulatory Organization of Canada (IIROC) also reviews all trading activities for possible violations of the trading rules.
If a securities dealer is found to be trading in violation of the trading rules, IIROC or the British Columbia Securities Commission may pursue disciplinary action against that dealer. Investor complaints, such as yours, are important to us. They can be the first indicator of a scam or other wrongdoing. We carefully consider each complaint.
We investigate complaints to enforce compliance with the Securities Act and to sanction securities market misconduct. We also refer complaints to other regulatory jurisdictions or self-regulatory bodies when appropriate. Not all complaints result in an investigation or a public sanction.
Staff cannot comment on an investigation matter unless it becomes a public record. By keeping information confidential, we protect the integrity of investigations, ensure the complaint process is not used to affect the market, and maintain fairness to those who may be the subject of a complaint that does not result in an investigation or sanction.
We appreciate that you made the effort to send us this information. We will contact you again if further information is required.
In the meantime, if you have any comments or questions, contact our Inquiries Group in Vancouver at (604) 899-6854 or toll free 1-800-373-6393 or email: <Inquiries@bcsc.bc.ca>. Please refer to your Enquiry Log number listed below. Thank you again for taking the time to contact us.