The Library of Parliament recently made available a new publication entitled Proposed Federal Securities Regulator - 1. Economic Aspects
"Over the years, a number of interests have promoted the creation of a
federal securities regulator. Others, while working towards a greater
harmonization of rules, have maintained that the current system of
securities regulation is preferable."
"Most recently, the federal government proposed legislation to
establish a federal regulator responsible for implementing a single
Canadian securities statute, and in December 2011, the Supreme Court of
Canada ruled that the legislation was unconstitutional. A few months
later, in the 2012 Budget, the government restated its economic
arguments in support of creating a single regulator."
"This publication summarizes those economic arguments, as well as
views in support of the current system. It also describes the current
state of securities regulation and the actions taken by the federal
government and other stakeholders regarding the proposed federal body."
Labels: constitutional law, Library of Parliament, securities law