Delay itself (mere delay) is not a mitigating factor in sentencing; it is only mitigating when combined with other favourable factors such as progress towards rehabilitation, in which case delay is facilitative or causative but not itself mitigatory. Buss JA articulated seven guiding principles on when delay is and is not mitigating, including that delay caused by difficulties in detecting or investigating offences is not ordinarily mitigating, nor is delay resulting from the normal operation of the criminal justice system. For serious securities market manipulation offences, custodial sentences are appropriate and general deterrence must be given significant weight.
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