The push for a national securities regulator got a boost with the addition of Saskatchewan and New Brunswick, federal finance minister Joe Oliver told BNN.
Read: Alberta denounces progress on national securities regulator
“I think this is significant momentum….[W]hat we’re trying to build is a single, common securities regulator for Canada—something every other developed country in the world has. And there’s a reason that they have it; because if you have a balkanized system, it really doesn’t reflect the nature of the capital markets, which are basically national and international.”
He says the lack of a national regulator creates problems with enforcement, oversight of systemic risk and our reputation internationally.
He adds that Alberta, which has refused to get on board, “will in time see the advantages of being part of a Canadian system.”
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