Agreement to establish a Canadian cooperative capital markets regulator
23 Sep 2013
On 19 September 2013, the Ministers of Finance of British Columbia, Ontario and Canada agreed to establish a cooperative capital markets regulatory system. They invite all Canadian provinces and territories to participate in the proposed system.
Key features of the cooperative system include:
- A common regulator will administer a single set of regulations designed to better protect investors, enhance Canada’s financial services sector, support efficient capital markets and manage systemic risk.
- The regulator will be directed by an expert board of independent directors with relevant capital markets-related expertise and that is broadly representative of the regions of Canada.
- A Council of Ministers of all participating jurisdictions will oversee the cooperative system.
- There will be an executive head office in Toronto and a nationally integrated executive management team.
- The regulator will have a regulatory office in every participating province with staff, expertise and resources that are commensurate with the capital markets activity and regulatory and enforcement demands of that jurisdiction.
- The regulatory offices will deliver consistent regulation in a way that is responsive to the interests and sensitivities of Canada's regions and market sectors.
For more information on the cooperative capital markets regulator, see the press release and related documents on the Department of Finance website.
