As the plan to create a national securities regulator forges ahead, the organization’s newly minted chairman says he isn’t bothered by the fact that not all of the provinces have signed on.
Advisors, investors and markets would all benefit from a single national regulator, says the Investment Industry Association of Canada in its recent newsletter.
Canada and Singapore are currently the best regulatory jurisdictions for financial services across the globe, according to a report released by the Toronto Financial Services Alliance and U.K. think tank Z/Yen.
The Globe and Mail reports that three of the country's largest pension fund managers are against new legislation that would include them among the key financial players to be governed by a new regulator overseeing systemic risks.
Prince Edward Island is the fifth province to endorse a plan to create a national securities regulator.
Saskatchewan and New Brunswick have both signed an agreement to create a national securities regulator.
The Ontario Securities Commission has announced one-time relief on participation fees for certain small registered firms and reporting issuers.
Despite little news in yesterday’s budget, the federal government’s still keen to establish a national securities regulator, and bureaucrats are making progress on the measure.
The Ontario Securities Commission has published OSC Rule 91-506 Derivatives: Product Determination and OSC Rule 91-507 Trade Repositories and Derivatives Data Reporting, the first set of harmonized derivatives rules that intends to bring greater transparency to the over-the-counter derivatives market and pave the way for future rules.
The Ontario Teachers' Pension Plan and the Investment Industry Association of Canada both support the plan by the ministers of finance of British Columbia, Ontario and Canada to establish a co-operative capital markets regulatory system.