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ARTICLE · 04 JANUARY 2012

MarketCaps @ Gowlings - December 23, 2011 - Volume 7, Number 10

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In a unanimous decision released on December 22, 2011, the Supreme Court of Canada held that the Federal government's proposed Canadian "Securities Act" (the "Proposed Act") as presently drafted is not valid under the general branch of the Federal power to regulate trade and commerce under section 91(2) of the "Constitution Act, 1867".

CanadaFinance and Banking
Kelley McKinnon
Kelley McKinnon
Brent Arnold
Brent Arnold
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In this issue:

  • Supreme Court Releases Decision on Proposed Securities Act - Details

Supreme Court Releases Decision on Proposed Securities Act - Details

By: Kelley McKinnon and Brent Arnold

In a unanimous decision released on December 22, 2011, the Supreme Court of Canada held that the Federal government's proposed Canadian Securities Act (the "Proposed Act") as presently drafted is not valid under the general branch of the Federal power to regulate trade and commerce under section 91(2) of the Constitution Act, 1867. The Proposed Act would have established a national securities regulatory regime to replace the existing legislation and regulators of participating provinces and territories. Kelley McKinnon and Brent Arnold of Gowlings represented Teachers Pension Plan Board in the proceedings before the Supreme Court of Canada.

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