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You are here: Home / Business / Draft of new national securities act introduced

By Colin Braithwaite | < 1 Minutes Read June 29, 2010

Draft of new national securities act introduced

Earlier this year, Inside Internal Control reported that Alberta and Quebec were preparing constitutional “references” to be heard by their respective provincial Courts of Appeal to defend their rights to maintain their own provincial securities regulators. At the same time, the federal government announced its intention to take its case for a national regulator to the Supreme Court.
And last month, that’s exactly what transpired. The finance minister released a new federal Securities Act, but announced that it would immediately be presented to the Court with the question: is the proposed Act within the legislative authority of the Parliament of Canada? However, the minister made it clear that the provinces would have the power to opt in or out of the national scheme, as they wished.
Stay tuned.
Colin Braithwaite
First Reference Internal Controls Managing Editor

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Colin Braithwaite
Freelance editor at Colin Braithwaite Editorial Services
Colin Braithwaite has more than 20 years experience in writing and publishing. From 2004–2010, Colin was the Managing Editor responsible for the products in the Internal Control Library at First Reference Inc.
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Article by Colin Braithwaite / Business, Finance and Accounting / Alberta, federal Securities Act, national regulator, national securities act, Quebec, securities, securities act, securities regulator

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About Colin Braithwaite

Colin Braithwaite has more than 20 years experience in writing and publishing. From 2004–2010, Colin was the Managing Editor responsible for the products in the Internal Control Library at First Reference Inc.

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  1. Kedar Sapkota says

    June 30, 2010 at 3:21 am

    Thanks for this news.I hope new national security act will be implemented with great effort.

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