Additional Steps In Move To Canadian Securities Regulator

In mid-October 2009, the federal government took additional steps to advance its objective to establish a Canadian securities regulator.

As we reported in our August 2009 issue, the federal government is pressing ahead with its plans to establish a single Canadian federal securities regulator pursuant to the recommendation of the Expert Panel on Securities Regulation in Canada in its final report, published on January 12, 2009.

On October 15, 2009, the federal Minister of Finance announced the appointment of the members of the Advisory Committee of Participating Provinces and Territories to the Canadian Securities Transition Office. Members of the Advisory Committee have been nominated by the three territories and seven of the 10 provinces — missing are Québec, Manitoba and Alberta, which oppose the establishment of a Canadian securities commission.