IDA Publishes Report On Modernization Of Canadian Securities Legislation

by Glen Shapiro, for LawAndTax-News.com, New York

09 October 2006

The Investment Dealers Association of Canada (IDA) last week welcomed the release of the final report of the Task Force to Modernize Securities
Legislation in Canada, entitled 'Canada Steps Up'.

On June 27, 2005 the IDA announced the establishment of this independent task force of prominent business leaders, securities lawyers, industry professionals and academics to recommend changes to Canadian securities legislation to achieve a dynamic, fair, efficient and competitive capital market.

The Task Force was asked to undertake comprehensive and expert research, in Canada and internationally, to generate data and analysis to support informed and innovative reform of regulatory content including issues related to investor protection, access to capital, enforcement, governance and regulatory burden. However, its mandate did not include issues of regulatory structure.

“Canada Steps Up provides those charged with ensuring the integrity and competitiveness of Canada’s capital markets with an unprecedented body of original and leading edge research, data and analysis by Canadian and international experts," IDA President and CEO Joe Oliver announced.

He continued:

“Our objective in sponsoring the Task Force was to promote informed debate and dialogue. We urge all participants in Canada’s capital markets to participate in constructive discussions about the Task Force recommendations and findings. We also hope that stakeholders in other countries will find the Report valuable.”

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