In the wake of a setback from the Supreme Court of Canada, Ottawa is forging ahead with the idea of creating a national securities regulator using a cooperative approach that could pay off, according to a new report from the C.D. Howe Institute. In “Finding Common Cause: The Renewed Quest for a National Securities Regulator,” author Jeremy Fraiberg assesses the chances of reaching federal-provincial agreement on creating a common regulator and having provinces come on board.
“The goal is feasible and desirable in view of the shortcomings of Canada’s current collection of 13 provincial and territorial regulators,” notes Fraiberg. “It remains to be seen, however, which provinces will cooperate with the federal government and, if so, on what terms.”