VANCOUVER, June 22 /CNW/ - The Certified General Accountants Association
of Canada (CGA-Canada) congratulates and offers its support to Doug Hyndman,
named today by Finance Minister Jim Flaherty to serve as Chair and CEO of the
newly launched Transition Office, charged with leading the effort to establish
a Canadian securities regulator. The association also congratulates Bryan
Davies, announced as the office's Vice-Chair.
"CGA-Canada supports Mr. Flaherty's goal of establishing a common
securities regulator and congratulates him on moving the file forward with
this announcement today," said Anthony Ariganello, President and CEO of
CGA-Canada. "A common securities regulator would reduce unnecessary
bureaucracy, strengthen confidence in Canada's regulatory system, and
facilitate improved trade - both inter-provincially and internationally. We
welcome Mr. Hyndman and Mr. Davies, whose wealth of experience and familiarity
with the issue should help them to earn the support of Canada's provinces and
territories in this worthy objective."
In its submission last year to the Expert Panel on Securities Regulation
in Canada, CGA-Canada endorsed a common securities regulator and proposed that
it should also have oversight of financial reporting and auditor oversight.
Such a structure would be consistent with most other countries, including the
United States, the United Kingdom, Australia and other key trading partners.
CGA-Canada's proposal, which can be read at cga.org/canada/securities, would
result in a legitimate, transparent, accountable, efficient and effective
regulatory structure that responds to regional needs, enabling Canada to
better compete on a global scale.
Founded in 1908, the Certified General Accountants Association of Canada
serves 71,000 Certified General Accountants and students in Canada and more
than 80 countries. Respected accounting and financial management
professionals, CGAs work in industry, finance, government and public practice.
CGA-Canada establishes the designation's certification requirements and
professional standards, offers professional development, conducts research and
advocacy, and represents CGAs nationally and internationally.
For further information:
For further information: Media enquiries: Taylore Ashlie, Director,
Communications, Telephone: (604) 605-5055, Cell: (604) 307-0212, Email: