Securities regulators launched 77 enforcement proceedings and resolved 82 cases during the six months ended Sept. 30, the Canadian Securities Administrators says, while noting that its actions have sent “a strong message of deterrence” to the investment community.

In its first bi-annual report, issued Friday, on enforcement activities by all jurisdictions, the CSA said that of the 82 cases resolved in the period, 32 resulted in sanctions, 27 ended in settlement agreements, 19 resulted in decisions but with sanctions pending, and four cases were withdrawn. In addition, six decisions were appealed and 29 interim orders were issued.

“During the first six months of 2004, CSA members launched 77 enforcement proceedings that may result in hearings in court or at commission tribunals,” Steve Sibold, chairman of the CSA and the Alberta Securities Commission, said in a release. “During that same period, 59 cases resulted in sanctioning orders or settlements that frequently included several people or companies. This sends a strong message of deterrence to people who would consider violating our securities laws.”

The CSA says that, beyond providing greater transparency on CSA enforcement activities, compilation of the information will also provide additional benefits to the regulatory system, including: increased ability to identify trends in enforcement; identification of commission and court decisions in any jurisdiction which may have an impact on the regulatory regime; and, improved cross-jurisdictional processes and coordinated inter-jurisdictional investigations through improved accountability to industry and communications to the marketplace.