Investors Welcome Ontario Bill 198

Paper Summary:

This paper explains how the infamous Enron case caused regulatory bodies the world over to be concerned and stressed the need for greater control in the form of stringent and revised policies as well as a dramatic increase in penalties for any unethical and illegal offenses. The paper also examines the resulting positive impact the bill has on Canadian investors while boosting the capital market.

From the Paper:

"It is evident that the Ontario Bill 198 has not only radically transformed the role of CGA, CSA, OSC and CICA in setting up standards but it has also resulted in increased investor's confidence and greater stability of the capital market where employment of ethical standards is essential for the survival of the market system. Ontario Bill has thus augmented the power of investors thereby equipping them with new-found confidence in the workings of the market system where there hard-earned and much-valued capital remains at stake but which is no more at the mercy of the financial accountants."

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