On February 28, the Ontario Securities Commission released a report outlining its enforcement activity for 2012. According to the report, a total of 30 proceedings were initiated in 2012, with 15 of those including allegations of fraud. Meanwhile, proceedings were concluded against 63 individuals and 37 companies, with a majority of matters concluded at a contested hearing before a tribunal. Sanctions for the year totaled more than $78 million. As we discussed last week, the CSA also recently released an enforcement report highlighting the activities of CSA members over the last few years.