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Finance Minister Jim Flaherty speaks following the signing of an agreement on securities regulation, Thursday September 19, 2013 on Parliament Hill in Ottawa.
Finance Minister Jim Flaherty speaks following the signing of an agreement on securities regulation, Thursday September 19, 2013 on Parliament Hill in Ottawa.
(Adrian Wyld/THE CANADIAN PRESS)

Flaherty deserves credit for new securities regulator

You’ve got to give it to Jim Flaherty. It takes guts to be shot down by Canada’s top court and come back with renewed vigour.

The finance minister fought tooth and nail for a national securities regulator that would scrap Canada’s current patchwork of provincial bodies, but nearly two years ago the Supreme Court nixed the plans, invoking the prickly federalism rules as its root reason. (A full explanation can be found here.)