The Canadian Securities Administrators shut down 11,728 malicious websites over 2025-2026, the organization revealed in its latest "Year in Review" report.
The sites reflected 19,860 individual URLs and were identified via technology-enabled fraud detection. In addition, the CSA issued 763 investor alerts, cautions, and warnings for the public’s protection; over 85 percent of these involved crypto assets.
CSA members pursued 13 crypto-related enforcement matters to guard capital markets’ integrity. Forty-seven companies and individuals were permanently prohibited from capital markets involvement after enforcement proceedings.
The organization’s “Spot the Red Flags of Fraud” investor education campaign went out to 20.4 million Canadians. CSA members also formally aided and provided referrals to one another and to other agencies in 262 instances – 150 of which involved foreign regulators in enforcement-related issues.
“Over the past year, CSA members fostered conditions to support competitive and resilient capital markets, strengthened efforts to combat increasingly sophisticated online fraud, and deepened our understanding of emerging technologies that are reshaping financial markets. This work reflects our commitment to practical, coordinated and responsive regulation that serves investors, businesses and the broader Canadian economy,” said Stan Magidson, CSA chair and chair and CEO of the Alberta Securities Commission, in a statement.
He explained that the CSA had advanced the streamlining of initial public offering disclosure requirements, improve prospectus marketing disclosure flexibility, bolster current prospectus exemptions, and effect voluntary semi-annual reporting for smaller venture issuers.
“Most recently, we published a consultation that seeks feedback on ways to modernize our regulatory framework and better reflect today’s market environment. This consultation stems from ongoing engagement with market participants on what changes can have the most meaningful impact for companies, investors and intermediaries,” Magidson wrote in the report.
Magidson confirmed that he would remain the organization’s chair for another year, working alongside freshly nominated vice-chair Roger Sobotkiewicz. Sobotkiewicz is chair and CEO of Saskatchewan’s Financial and Consumer Affairs Authority.
“Canada’s capital markets are operating in an environment shaped by geopolitical uncertainty, rapid technological change and evolving investor expectations. For the CSA and its members, these dynamics reinforce the importance of coordinated, practical and responsive regulation. Over the past year, we advanced the priorities set out in the 2025–2028 Business Plan with a clear focus on supporting the competitiveness of Canadian capital markets, reducing unnecessary regulatory burden and maintaining strong investor protection,” Magidson said.
The “Year in Review” report covered the period from July 1, 2025 to June 30, 2026. It focused on the CSA’s first-year progress with regard to its 2025-2028 Business Plan goals.