On June 22, 2009, Canada’s federal government announced that a team led by the chair of the B.C. Securities Commission, Doug Hyndman, will lead the transition to a new national securities regulator. Mr. Hyndman will be responsible for negotiating with the provinces—each of which currently has its own securities regulator—as well as developing the legislation that outlines the new national regulator’s mandate. A report is due in a year, with an implementation target of three years.
Goodness knows, this is long overdue. In the absence of a single national securities regulator, efforts have been underway for many years to harmonize . . . [more]