2014 Canadian Capital Markets Report: Looking Back, Looking Forward

Following a year of only modest growth, financial markets enter 2014 with a more positive outlook as global economies continue to emerge from fiscal tightening. As always, it is useful to look back on the experience and phenomena of the past year to inform our approach to the year ahead. In 2013, Canadian regulators continued to focus on adapting to market trends while improving the efficiency of the markets. Several key developments took place in 2013, including the initiative of the federal and two provincial finance ministers to create a cooperative capital markets regulator by the summer of 2015 as well as changes proposed and implemented to many existing regulations.

We expect that the developments and trends that evolved in 2013 will continue to shape the Canadian capital markets in 2014. With this in mind, the following key issues and developments are covered in this fourth annual report by Davies on the year that was and the year ahead for Canadian capital