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Short Seller Targets Canadians Firms Citing Lack of National Securities Regulator


Wendy Berman was quoted in the Reuters story “Short Seller: Cohodes Hits Canada Again with Latest Target: Exchange Income” published on July 5, 2017.

Write Jennifer Ablan and Alastair Sharp: “Short seller Marc Cohodes, who has bet against the shares of six Canadian-based companies including Valeant Pharmaceuticals International Inc and Home Capital Group Inc, said on Wednesday that he is targeting yet another Canadian firm – Exchange Income Corp…. Cohodes said his focus on Canadian firms stems from his belief that there is no cohesive watchdog for nefarious company activity in the country, which lacks a federal regulator.”

Says Wendy: “Without a national securities regulator, you don’t have a national (enforcement) agenda, you have a local agenda.” Adding that provincial regulators vary in terms of their resources, experience and priorities.

Read the full story here.