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A Canadian National Securities Regulator


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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.

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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 B) they were bribed with the promise of deputy regulators based in SK and NB.

Four provinces have now joined, six have not.

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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.

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