Tuesday, July 7th31.0°C
25936
26015

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

26594


Recent Trending




Today's Market
S&P TSX14601.35+7.78
S&P CDNX653.71-9.62
DJIA17751.93+68.35
Nasdaq4991.79-0.15
S&P 5002079.23+10.47
CDN Dollar0.7872-0.0034
Gold1153.50-19.40
Oil53.40+0.27
Lumber281.90-1.80
Natural Gas2.721-0.035

 
Okanagan Companies
Pacific Safety0.175+0.005
Knighthawk0.010.00
QHR Technologies Inc1.50-0.02
Cantex0.05+0.02
Anavex Life Sciences0.523+0.003
Metalex Ventures0.065-0.010
Russel Metals22.63+0.24
Copper Mountain Mining1.05-0.04
Colorado Resources0.085+0.005
ReliaBrand Inc0.0065+0.0005
Sunrise Resources Ltd0.03-0.01
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.00

 





FEATURED Property
23469491100 Sussex Road
5 bedrooms 3 baths
$439,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Increase property value

Photo: Thinkstock.comHere are five of the best renovations you can do to your home to increase property value. These five renovations can sometimes have a return on investment five to six times what t...


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...

_



26928




Member of BC Press Council


26432