IMETs: Frequently Asked Questions

• What is an IMET?
• What is the objective of the IMETs?
• How many IMETs are established and where are they located?
• What type of offences do IMETs investigate?
• How are cases selected for investigation?
• How are IMETs contributing to Canada’s economic stability?
• If I want an IMET to investigate a company - who do I contact?

What is an Integrated Market Enforcement Team (IMET)?

IMET is a group of highly specialized investigators dedicated to ensuring that those who commit serious capital markets fraud offences will be discovered, investigated, prosecuted, and incarcerated in an effective and timely fashion.

The IMET investigative pool may be comprised of:

• RCMP investigators,
• Public Prosection Service of Canada legal advisors,
• securities regulators,
• representatives of other federal enforcement agencies,
• law enforcement agencies of local jurisdiction,
• forensic accountants, and
• various support staff.

What is the objective of the IMETs?

The objective of the IMETs is to enhance the protection of Canada's capital markets through the detection, investigation and prevention of serious corporate and financial markets crime.

How many IMETs are established and where are they located?

Ten IMETs are operational in Canada. There are four IMETs in Toronto, and two in Vancouver, Montreal, and Calgary. These teams are supported by a branch in Ottawa which also has the ability to place an investigative team in the field.

What type of offences do IMETs investigate?

IMETs are dedicated to the investigation and prosecution of serious Criminal Code of Canada capital markets fraud offences that are of national significance and involve actions by publicly-traded companies that pose a genuine threat to investor confidence in Canada’s capital markets and economic stability.

How are cases selected for investigation?

Case selections are based on referrals from the RCMP’s Commercial Crime sections and other police forces across Canada. Cases are also forwarded through the RCMP’s web-based Canadian Anti-Fraud Centre. The IMETs also receive valuable input and referrals from our partner agencies such as the provincial securities commissions, other self-regulatory agencies ('SRO's), and the public.

Although a single case may not appear significant at first glance, other investors or members of the public may be making similar complaints which begin to identify trends and may assist an IMET in planning future investigations.

How are IMETs contributing to Canada’s economic stability?

Since June 2008, the IMET program has charged 21 individuals with Criminal Code offences in eight separate investigations. Three individuals have pled guilty. One received a 13-year sentence while the two others are awaiting sentencing. Six cases remain before the courts."

If I want an IMET to investigate a company - who do I contact?

The public is encouraged to suggest cases for investigation through the RCMP or any of the “portal agencies” located throughout the country. You can do this by contacting your local RCMP Commercial Crime section (or any other police agency of jurisdiction), by using the Canadian Anti-Fraud Centre website, or by contacting any IMET office.