The Canadian Minister of Finance announced on September 19,
2013, that the federal government has agreed in principle with the
provinces of British Columbia and Ontario to move towards
establishing a cooperative capital markets regulatory system.
Securities markets in Canada are separately regulated by each of
the 10 provinces and 3 territories of Canada.
The proposed regulator will be a common regulator that will
administer a single set of regulations designed to protect
investors, support efficient capital markets and manage systemic
risk. The regulator will be self-funded through a single set of
fees and will have an office in each of the participating
provinces. The proposed regulator will have an executive head
office in Toronto and a nationally regulated executive management
The other provinces and territories are not parties to the
agreement in principle. The federal Minister of Finance has
extended an invitation to all provinces and territories to
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The Supreme Court of Canada has provided guidance to financial institutions holding otherwise "highly sensitive" information to determine when that information is somewhat less sensitive, such that it can be disclosed.
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