Heads Up for a Christmas Present From the Supremes

The Supreme Court of Canada announced today that judgment in the National Securities Regulator Reference will be delivered at 9:45 a.m. EDT on Thursday, December 22, 2011. That’s In the Matter of Section 53 of the Supreme Court Act, R.S.C. 1985, C. S-26 and in the Matter of a Reference by the Governor General in Council concerning the proposed Canadian Securities Act, as set out in Order in Council P.C. 2010-667, dated May 26, 2010 (33718)

We’ll link to it and commentary when it comes down.

Perhaps the word “Judgment” implies that it will be the decision of the Court, as a whole. No individual judgments, like Chief Justice Dickson’s in National City Leasing to cause uncertainty.

For those who missed them the hearing webcasts are here and here


  1. Given the importance of this constitutional issue, I would hope the “Judgment” means the whole court and nothing but the whole court.
    I am eagerly awaiting “the past the due date” and labour intensive delivery scheduled for Thursday. Will it be a robust constitutional precedent and provincial legacy?

    Thanks for keeping us linked in!

  2. Congratulations…..to the SCC! Thank you to Alberta and Quebec who launched this important constitutional challenge. Now that the question has been answered, the focus must shift to establishing co-operative solutions which better address the deficiencies, correct the mistakes and integrate the best ideas, from the Provinces and the Federal Government, which will promote better accountability, responsibility, and sustainability in the securities industry. What changes are needed to ensure that co-operative federalism grows up to be a financially healthy offspring?
    I hope the message moving forward is not what Canada doesn’t have among the G7/20 (a national securities regulator) but what we do have…..a strong constitution which supports a balance of power and henceforth, should make all of us winners.