Tuesday, September 30th6.3°C
22738
22455

Ottawa to announce progress on securities regulator, new converts

OTTAWA - The federal government is expected to announce on Wednesday it is has garnered sufficient provincial support to proceed with a national securities regulator.

Finance Minister Joe Oliver is scheduled to hold a news conference at 9 a.m. in Ottawa.

According to informed sources, Saskatchewan and one Atlantic province are prepared to join Ontario and British Columbia in the effort.

That still leaves six provinces outside the group, with Quebec and Alberta remaining the strongest in opposition, but the federal government believes the regional representation is sufficient to proceed.

Ian Russell of the Investment Industry Association of Canada says unanimity is not required as long as Ottawa obtains a sufficient critical mass to create momentum for the new office.

The government has long maintained that Canada's current system, with 13 separate regulators and commissions across the country, is Byzantine and inefficient — making it difficult to police abuses and securities fraud.

But the Supreme Court ruled in 2011 that the matter falls mostly under provincial jurisdiction and that Ottawa would be advised to obtain the co-operation of the provinces.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14960.51-16.41
S&P CDNX909.29-3.47
DJIA17042.90-28.32
Nasdaq4493.39-12.462
S&P 5001972.29-5.51
CDN Dollar0.8923-0.0007
Gold1207.10-4.50
Oil90.16+0.40
Lumber333.20+0.30
Natural Gas4.131+0.01

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.26+0.03
Cantex0.065-0.025
Anavex Life Sciences0.184-0.001
Metalex Ventures0.0550.00
Russel Metals34.57+0.08
Copper Mountain Mining2.42-0.10
Colorado Resources0.165+0.015
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.32-0.02

 



23535

FEATURED Property
1885299128 Sunset Ridge road
$29,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...


A wildly successful manufacturer

Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...


Finding the smart money

Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...

_








Member of BC Press Council


22707