Tuesday, June 7, 2005

Dean Ron Daniels, U of T Faculty of Law, has been appointed by the Ontario government to chair a panel that will develop a plan to determine how a single national securities regulator would operate.

In a news conference on February 18, Gerry Phillips, the minister responsible for Ontario's securities industry, announced that the panel will determine how a common regulator would operate.

"The panel members will reflect a broad mix of perspectives to ensure that they consider the viewpoints of investors, businesses and regions of Canada," Phillips said in a news release. "They will show how a common regulator can serve the interests of all provinces and territories."

Currently, each Canadian province and territory has its own securities regulator, making Canada the only developed nation without a national regulator to support capital markets and protect investors.

"Advancing the design of a common securities regulator is key to ensuring a stronger, more modern economy," Phillips said. "Vibrant capital markets help lay the foundation for strong economic growth, which benefits all provinces and territories."

A new single regulator is expected to help make Canadian capital markets more competitive and more efficient. The panel will present its recommendations to the province by the end of June.

For more information visit www.gov.on.ca/mbs