Library of Parliament Publication on Proposed Federal Securities Regulator

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."