The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

From left, British Columbia Finance Minister Mike de Jong, New Brunswick Justice Minister Troy Lifford, federal Finance Minister Joe Oliver, and Saskatchewan Justice Minister Gordon Wyant listen as Ontario Finance Minister Charles Sousa responds to a question at a news conference in Ottawa on July 9, 2014.
From left, British Columbia Finance Minister Mike de Jong, New Brunswick Justice Minister Troy Lifford, federal Finance Minister Joe Oliver, and Saskatchewan Justice Minister Gordon Wyant listen as Ontario Finance Minister Charles Sousa responds to a question at a news conference in Ottawa on July 9, 2014.
(Fred Chartrand/THE CANADIAN PRESS)

The two big barriers to a national securities regulator

If, as Canada’s Finance Minister Joe Oliver says, the addition of Saskatchewan and New Brunswick to the Co-operative Capital Markets Regulatory System is a “major step” toward the federal Conservative government’s dream of a national securities regulator, then clearly “major” has become a relative term on this file. While Ottawa has added two tiny provinces (in financial market terms) to the agreement-in-principle, the four biggest players remain stubbornly reluctant to co-operate – including two who have already signed on to the plan.