First Reference company logo

Inside Internal Controls

News and discussion on implementing risk management

machine cogs image

Draft of new national securities act introduced

Earlier this year, Inside Internal Control reported that Alberta and Quebec were preparing constitutional “references” to be heard by their respective provincial Courts of Appeal to defend their rights to maintain their own provincial securities regulators. At the same time, the federal government announced its intention to take its case for a national regulator to the Supreme Court.

And last month, that’s exactly what transpired. The finance minister released a new federal Securities Act, but announced that it would immediately be presented to the Court with the question: is the proposed Act within the legislative authority of the Parliament of Canada? However, the minister made it clear that the provinces would have the power to opt in or out of the national scheme, as they wished.

Stay tuned.

Colin Braithwaite
First Reference Internal Controls Managing Editor

Follow me

Colin Braithwaite

Freelance writer at Colin Braithwaite Editorial Services
Colin Braithwaite has more than 20 years experience in writing and publishing. From 2004–2010, Colin was the Managing Editor responsible for the products in the Internal Control Library at First Reference Inc.Read more
Follow me

, , , , , , ,

Comments are currently closed.

One thought on “Draft of new national securities act introduced