Report of ASC BCSC Audit of Market Regulation Services Inc. Western Region

ASC/BCSC Audit of Market Regulation Services Inc. Western Region May 26, 2005 (The audit covered the period from March 2002 to August 2004) Table of Contents Page Executive Summary....................................................................................... 2 Background ................................................................................................... 3 Overview of Departments & Major Processes ................................................ 5 Summary of Key RS Audit Findings.............................................................. 7 1. Results……………………………………………………………………..7 2. Staffing, Turnover and Training ............................................................ 11 3. File Prioritization, Performance Measures and File Aging...................... 13 4. Policies and Procedures........................................................................... 17 List of Acronyms ......................................................................................... 18 Appendices .................................................................................................. 19 Executive Summary The Alberta Securities Commission and the British Columbia Securities Commission’s audit of Market Regulation Services Inc.’s Western Region covered the period from March 1, 2002 to August 31, 2004. The primary regulatory ...