Time for a Single Finacial Regulater

[M.Dancer]

If a Canadian company wishes to raise capital in the US, that company must file and comply with the SEC. If an CANADIAN company wishes to raise capital in Canada, that company must file and comply with:

EVERY SINGLE PROVINCIAL REGULATOR!

This inefficiancy compounds the costs related to issuing IPOs (legal fees x 10) and slows economic growth.

Royal Bank of Canada senior executive Barbara Stymiest ( and EX-TSX Chief) slammed Canadian securities laws in her presentation.

"We need to rethink government and regulatory policies for business in the context of Canada's ability to compete in the future," she said at the all-day policy conference, attended by party Leader Stéphane Dion, party finance critic John McCallum, Michael Ignatieff and other MPs and senators.

http://www.reportonbusiness.com/servlet/st...TPStory/robNews

Flaherty has also called for a single regulator

eBut Quebec and others say pooh pooh

http://www.reportonbusiness.com/servlet/st...ry/robNews/home

OTTAWA — Finance Minister Jim Flaherty says the summer credit crunch is indisputable proof of the need for a single Canadian securities regulator: one that could better guard against, and fend off, shocks buffeting this country's capital markets.

“There's no question. We'd be better equipped going forward to respond and act in response to these types of events with one common securities regulator in Canada,” Mr. Flaherty said in an interview.

http://www.reportonbusiness.com/servlet/st...BNStory/robNews

And typically, Quebec wishes to remain distinct and uncompetitive.

[geoffrey]

The cost and burden are largely overstated, but a single regulator would be nice. Ontario still calls all the shots and everyone complies with their directives as of now anyways.

[Pliny]

The cost and burden are largely overstated, but a single regulator would be nice. Ontario still calls all the shots and everyone complies with their directives as of now anyways.

So all the costs (even though "largely overstated") are essentially a fee for doing business. Sounds mafia-like...er..like government.

[M.Dancer]

So all the costs (even though "largely overstated") are essentially a fee for doing business. Sounds mafia-like...er..like government.

Well, law firms make bundles of cash working on the filings.....then they are the vaious consultants and filing fees....it is cited as a reason why foreignb firms don't cross list in Canada....

[Pliny]

Well, law firms make bundles of cash working on the filings.....then they are the vaious consultants and filing fees....it is cited as a reason why foreignb firms don't cross list in Canada....

Have to keep the lawyers busy.