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ARTICLE · 25 MARCH 2013

Federal Government Advances Plan For National Securities Regulator

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP

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In a significant announcement made in yesterday's federal budget, the federal government proposed the creation of a national securities regulator by way of negotiated agreement with the provinces, but also indicated that it would act unilaterally and introduce federal legislation if a negotiated resolution could not be reached in a timely manner.

CanadaGovernment, Public Sector

In a significant announcement made in yesterday's federal budget (the Budget), the federal government proposed the creation of a national securities regulator by way of negotiated agreement with the provinces, but also indicated that it would act unilaterally and introduce federal legislation if a negotiated resolution could not be reached in a timely manner. As stated in the Budget:

"The Government's preferred approach to improving the regulation of Canada's capital markets is through a common securities regulator established co-operatively with provinces and territories. If a timely agreement cannot be reached on a common regulator, the Government will propose legislation to carry out its regulatory responsibilities consistent with the decision rendered by the Supreme Court of Canada."

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