The Office of the Superintendent of Bankruptcy (OSB) and the Royal Canadian Mounted Police (RCMP) have joined in a renewed partnership to support ongoing cooperative efforts in monitoring criminal activities and enforcing criminal offence provisions of the Bankruptcy and Insolvency Act and Criminal Code in relation to bankruptcy and insolvency matters.
James Callon, Superintendent of Bankruptcy, and Assistant Commissioner Stephen White, Director General of Financial Crime (RCMP), signed a new Memorandum of Understanding in support of the partnership.
James Callon with A/Comm'r Stephen White
As a key regulator of the marketplace, the OSB plays a critical role in protecting the integrity of the bankruptcy and insolvency system. One of the OSB's important responsibilities is addressing debtor abuse. The renewed partnership is designed to monitor criminal activities such as fraudulent bankruptcies, which pose a serious threat to the integrity of the bankruptcy and insolvency system. When cases of crime are suspected, the OSB may request the Commercial Crime Branch of the RCMP to commence an investigation into such matters.
A/Comm'r White indicated that economic integrity is a strategic priority for the RCMP and that the RCMP has been active in raising awareness in that regard over the last few years. He noted that he saw the renewed partnership as very important to support such awareness in relation to commercial crime and provide an opportunity to further the RCMP's work in enforcing Criminal Code as well as Bankruptcy and Insolvency Act provisions.
The partnership will also support a major OSB initiative — implementation of two new OSB investigation units working in close collaboration with the RCMP in Toronto and Vancouver. Such a unit is currently in place in Montréal.
From left to right: Luc Quenneville, Special Investigation Unit Manager (OSB), Patricia Alférez, Deputy Superintendent (OSB), Charmaine Martin, Regional Director, Western Region (OSB), James Callon, Superintendent (OSB), Assistant Commissioner Stephen White, Director General Financial Crime (RCMP), Superintendent Stephen R. Foster, Director, Commercial Crime Branch (RCMP), Inspector Kerry Petryshyn (RCMP), Jack Steinman, Regional Director, Ontario Region (OSB) and François Matz, Assistant Superintendent, Detection B (OSB).