CALGARY, June 20, 2013 /CNW/ - The Provincial-Territorial Council of
Ministers of Securities Regulation held a meeting by conference call on
June 17, 2013.
The Council recognizes that continuous improvements to the Canadian
securities regulatory system are desirable to meet the increasing
expectations of investors and the capital markets.
Council Ministers have agreed to move forward with a Memorandum of
Agreement (MOA) to establish a network-based cooperative regulatory
model. Elements of the MOA will include:
common securities legislation and rules, which continues to recognize
a renewed Council of Ministers, which will take a more proactive role in
policy development and oversight;
exploring formalizing the legal structure and responsibilities of the
Canadian Securities Administrators;
a structure that addresses all jurisdictions' concerns regarding the
need to improve the management of systemic risk across Canada; and
exploration of a common adjudicative body serving all jurisdictions in
The Council plans to meet on September 23, 2013 to finalize the new
MOA. The Council believes that working together within a common
regulatory framework is in the interests of all Canadians. To that
end, the Council is continuing its invitation to the Ontario and
Federal governments to participate in this important work by attending
the September meeting.
The Council remains committed to ensuring that Canada remains one of the
best-ranked regulatory regimes in the world, providing for sound
investor protection, and efficient, vibrant and competitive capital
markets going forward.
SOURCE: Alberta Public Affairs Bureau
For further information:
Office of the Minister, Alberta Treasury Board and Finance