Big Guy Posted July 9, 2014 Report Posted July 9, 2014 Alberta and Quebec are now the only two provinces resisting creating a national securities regulator. http://www.theglobeandmail.com/report-on-business/saskatchewan-new-brunswick-to-join-national-securities-regulator/article19517100/ Some of my investments do include stocks and I do wonder why any province would oppose a nationally consistent set of guidelines and overseeing of stock investments. Would someone please explain why some provinces feel that they could better regulate and supervise the workings of the market better than a national organization that could set standards and equal supervision. Quote Note - For those expecting a response from Big Guy: I generally do not read or respond to posts longer then 300 words nor to parsed comments.
overthere Posted July 10, 2014 Report Posted July 10, 2014 AB and Quebec don't trust a regulator based in Toronto that controls the capital markets everywhere. SK and NB joined because a) they don't many companies using those markets and they were bribed with the promise of deputy regulators based in SK and NB. Four provinces have now joined, six have not. Quote Science too hard for you? Try religion!
Big Guy Posted July 11, 2014 Author Report Posted July 11, 2014 I guess my real question is "Is a national securities regulator a good idea or a bad idea"? What are the advantages and disadvantages of one regulator overseeing Canadian securities over 13 regulators overlooking each provincial securities commissions? Quote Note - For those expecting a response from Big Guy: I generally do not read or respond to posts longer then 300 words nor to parsed comments.
idealisttotheend Posted July 11, 2014 Report Posted July 11, 2014 A national securities regulator just makes sense. Alberta, Quebec or Ontario don't really have any valid differing interests in securities regulation, It is just turf protection and it is unnecessary. Quote All too often the prize goes, not to who best plays the game, but to those who make the rules....
GostHacked Posted July 11, 2014 Report Posted July 11, 2014 Would one trust their oversight compared to what is currently in place? If regulations are broken, will we see bankers and investors getting the perp walk? Quote
hitops Posted July 11, 2014 Report Posted July 11, 2014 If you need to have regulator, might as well make it national to streamline things. Quote
Argus Posted July 12, 2014 Report Posted July 12, 2014 Would one trust their oversight compared to what is currently in place? If regulations are broken, will we see bankers and investors getting the perp walk? I can't speak for Quebec, but Ontario does virtually nothing in the way of regulating or overseeing the investment industry. The OSC is a hollow shell of an agency which ignores the tremendous amount of securities violations and insider trading which routinely takes place in Toronto. For all intents and purposes, securities activities are not currently regulated in Ontario. It's very much a 'every man for himself' steal all you can sort of atmosphere. That's the way the big investment and brokerage houses like it, and their money insures the Ontario government does as it's told. Quote "A liberal is someone who claims to be open to all points of view — and then is surprised and offended to find there are other points of view.” William F Buckley
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