David Baines: Regulators unfairly criticized for anemic securities enforcement

The Vancouver Sun and the Globe and Mail have been highly critical of securities regulators for collecting only a small fraction of the massive amount of fines they impose on securities offenders.
The Globe has also criticized regulators for what it views as a disturbingly large number of offenders who ignore their fines and suspensions and go on to commit more securities offences.
While the criticism has helped alert the public to some of the shortcomings of securities enforcement, it needs car