This month, we spotlight
Anna Perschy, SVP, Case Assessment, Disruptions and Evidence Support
Operations, Enforcement. Anna leads a team of professionals who support the
OSC’s enforcement mandate by safeguarding investors and strengthening
confidence in Ontario’s capital markets through case assessment, intelligence,
disruption activities, and advanced analytics.
“Effective enforcement
requires keeping pace with rapidly evolving markets and increasingly complex
misconduct,” said Anna. “By identifying issues sooner and taking decisive,
targeted action, we reduce investor harm and send a clear deterrent message to those
who seek to undermine confidence in Ontario’s capital markets.”
Anna oversees three
specialized multidisciplinary teams that work closely together and with other
divisions across the OSC:
Case Assessment
Case Assessment is made up of two
complementary units that assess complaints and tips received by the OSC by
gathering evidence and conducting analysis to determine potential violations of
securities law and their public‑interest impact. Case Assessment
identifies matters that should be considered for investigation, with a view to
litigation, as well as opportunities for early disruption or for information‑sharing and referrals to other securities regulators and
police agencies.
Intelligence,
Analytics and Research
This team provides critical intelligence, analytical insight, and research
support across Enforcement and is comprised of three units:
- Investigative
Support – Provides research
and intelligence, including database searches, criminal and property
checks, and support for registration‑related matters involving registered
firms and individuals, and the interactions between them, where
intelligence is needed to assess risk or support enforcement responses.
- Crypto and
Open‑Source Intelligence –
Uses publicly available information and specialized crypto tracing skills
to support assessment and investigative teams.
- Reporting – Supports reporting, forecasting, and
oversight by identifying trends and patterns across enforcement activity.
E‑Discovery
This team provides digital enforcement and advanced
data analytics support to enhance the effectiveness of investigations and
litigation through technology‑enabled evidence review. This includes
the use of AI to better manage large volumes of data and to assist in
identifying documents of particular interest, as well as transcribing,
translating, summarizing, and visualizing information.
Anna’s team reviews
incoming complaints and tips, working closely with the OSC’s Office of the
Whistleblower, Relationships and Emerging Issues, particularly on matters with
an international dimension. Together, they assess potential securities law
issues and determine the most effective response. A key priority is acting
early, where timely intervention can prevent harm from escalating.
This early intervention
approach is directly reflected in the team’s work to identify and disrupt
fraudulent investment websites, a rapidly growing threat to investors. Over the
past year, this work — carried out in coordination with domestic and international
partners — has resulted in the disruption of thousands of fraudulent sites. By cutting off avenues for harm before losses
escalate, this approach demonstrates proactive investor protection.
“Issues can arise quickly,
operate across borders, and be amplified by technology, making timely
disruption and intelligence-led responses an increasingly critical part of our
work,” said Anna.
The same principles
underpin the team’s participation in Operation Atlantic, a recent joint international enforcement
initiative, where the team worked alongside securities regulators, law
enforcement agencies, and registered crypto asset trading platforms from across
the United States, United Kingdom and Canada to disrupt large‑scale cryptocurrency fraud. The initiative
delivered tangible results, disrupting more than US$45 million in fraudulent activity, freezing
US$12 million in stolen funds, and identifying an additional US$33 million
believed to be linked to investment fraud schemes, now subject to further
investigation.
Alongside these large‑scale enforcement actions, the team also
prioritizes day‑to‑day investor protection, issuing investor alerts
about emerging frauds, including recent fake registration schemes, to help investors recognize warning signs and
make informed decisions.
Looking ahead, Anna’s team
will continue to focus on detecting fraud and market abuse, particularly as
these threats become increasingly international and technology-enabled.
“It’s the combination of
creativity, commitment, and collaboration that defines this team, taking
decisive action to continue to fulfill our mandate,” said Anna.
For more information about
the OSC’s Enforcement work, please visit the OSC
website.
In each OSC Guide, we shine a
spotlight on the leaders and teams that you can expect to interact with at the
OSC. Stay tuned to meet more of the OSC team next month!
