Posted AT 6:00 AM EST on 08/09/08
Thirteen securities regulators in Canada is 12 too many
Now is the time for Canada's securities regime to be controlled by a single regulator.
Provincial and territorial regulators and governments have made considerable efforts to improve the efficiency of securities regulation in Canada. There is a growing consensus that the passport system has been a step in the right direction, but it is not enough.
There is also consensus favouring principles-based regulation over prescriptive rules.
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