Sunday, October 4th5.4°C

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 TSX13339.74+97.85
S&P CDNX525.56-0.33
S&P 5001951.36+27.54
CDN Dollar0.7602+0.0057
Natural Gas2.47+0.04

Okanagan Companies
Pacific Safety0.215+0.000
QHR Technologies Inc1.19+0.01
Metalex Ventures0.06+0.00
Russel Metals21.48-0.07
Copper Mountain Mining0.42+0.03
Colorado Resources0.08+0.01
ReliaBrand Inc0.004-0.000
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.095+0.005
Decisive Dividend Corp3.49+0.45
Diamcor Mining0.90+0.02


2368788#5-6100 Old Vernon Road
4 bedrooms 3 baths
more details
Click here to feature your property
Please wait... loading

Living beyond 100

Photo: ContributedThere was a time most careers involved an apprenticeship of one sort another. Some official, others involving years of servitude, and others time simply spent watching and emulating ...

Collateral mortgage

Photo: Thinkstock.comMost of the time I recommend that my clients not take a collateral type mortgage product, as it locks you in with the current lender and at maturity the mortgage is costly to tran...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...




Member of BC Press Council