Canada Plans Securities Regulator

by Mike Godfrey, Tax-News.com, Washington

19 July 2010

Canadian Minister for Finance, Jim Flaherty has noted the recent release of detailed plans towards the introduction of a securities regulator in Canada. The document outlines measures to ensure a smooth transition to the new regulatory system.

Commenting on the release of the plans by the Canadian Securities Transition Office, Flaherty stated:

"It is extremely important that the implementation of a Canadian securities regulator will be seamless for financial system professionals and investors alike.”

“The transition plan lays out a path to that end and represents a key milestone in the establishment of an effective Canadian securities regulator that will improve securities regulation in Canada, strengthen protection for investors and enhance enforcement."

In setting out a vision for the Canadian securities regulator and a road map for its establishment, the plan also addresses organizational and administrative matters such as staffing and employee benefits.

The transition plan follows the release of the proposed Canadian Securities Act on May 26, 2010. The government said the next step will be to build a network of agreements amongst participating territories and provinces in Canada.

Recommended