Plan to create a national securities regulator is constitutional: Supreme Court

The unanimous ruling could help advance plans for a national regulator of capital markets

The Supreme Court of Canada says the Constitution allows Ottawa and the provinces to set up a national securities regulator.

In addition, the high court finds federal draft legislation for countrywide oversight of stocks, bonds and other investments falls within Parliament’s powers over trade and commerce.

RELATED: Statcan’s plan to harvest private banking info on hold, pending investigation

The unanimous ruling could help advance plans for a national regulator of capital markets, an idea under discussion since at least the 1930s.

British Columbia, Saskatchewan, Ontario, New Brunswick, Prince Edward Island, Yukon and the federal government have signed a memorandum of agreement to create a new model.

The plan includes a common regulator, a council of ministers to play a supervisory role, a model law that provinces and territories could pass, and federal legislation to manage systemic risk, allow for data collection and address criminal matters.

RELATED: Federal Trans Mountain pipeline purchase seen as ‘betrayal’ by many opponents: CSIS

The Quebec Court of Appeal said last year that the overall plan was unconstitutional, prompting Ottawa to head to the Supreme Court.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Chamber hears ‘13 Ways to kill commerce’

U of A’s Heather Thomson dispels small business myths

Amnesty International worried about Alberta’s publicity campaign

Meanwhile, critics of Vladimir Putin being murdered at alarming rate

Wetaskiwin Bantam Warriors thump St. Albert in season opener

Bantam team showing lots of potential in 46-27 win

Testing winter feed

Testing winter feed lets producers know what nutrients are available

Is it time for your mammogram?

Screen Test is coming to Maskwacis on October 15 and 16, and… Continue reading

VIDEO: Liberals make child care pledge, Greens unveil platform on Day 6 of campaign

Green party leader Elizabeth May unveils her party’s platform in Toronto

Vaping-related illness confirmed in Ontario believed to be first in Canada

Middlesex-London Health Unit had no further details about the case — believed to be the first confirmed in Canada

Canadian stars Virtue, Moir say in video they’re ‘stepping away’ from ice dancing

The pair thank fans for their support in an emotional message

Outspoken Imperial Oil CEO Rich Kruger stepping down later this year

Imperial Oil is about 70 per cent owned by Texas-based Exxon Mobil Corp., since 2013

‘Time to take action:’ Children advocates call for national youth suicide strategy

Council wants Ottawa to make reporting of suicides and attempted suicides mandatory for data collection

Canadian inflation decelerates to 1.9% as gas prices weaken

August was the sixth straight month that price growth was 1.9 per cent or higher

Alberta spends $3M to hire 30 nurse practitioners for remote areas

Province has 600 nurse practitioners, but minister says most work in hospitals or outpatient clinics

Rick Mercer calls out Conservative candidate in B.C. for fake meme

‘Not true. All fake. Please Stop,’ tweeted Rick Mercer in response

Sylvan Lake man charged with wife’s murder

Satnam Singh Sandhu, 41, will appear in Red Deer Provincial Court on Sept. 18

Most Read