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

Sylvan Lake man charged with wife’s murder

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

Sylvan Lake Minor Football teams put up a collective 223-point shutout

The Lakers, Lions and Bears all had shutout games over the weekend

Sylvan Lake Terry Fox Run sees largest turnout ever

The annual run took a new course, starting at Lighthouse Park, going along Lakeshore to Jarvis Bay

Women’s Wellness Retreat and Wellness Expo returning to Sylvan Lake

The 16th annual event and its accompany expo will be held at the NexSource Centre next weekend

Three Sylvan Lakers compete at World Wake Surfing Championship

Sara Tallon, Derian Halsey and Hayden Becker competed in the championship in Utah, Sept. 5-7

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

Sylvan Lake man charged with wife’s murder

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

National weather forecasters predict average fall, cold winter

The Weather Network says precipitation will about average in most parts of Canada

Conservatives promise tax cut that they say will address Liberal increases

Scheer says the cut would apply to the lowest income bracket

Fewer trees, higher costs blamed for devastating downturn in B.C. forestry

Some say the high cost of logs is the major cause of the industry’s decline in B.C.

Federal food safety watchdog says batch of baby formula recalled

The agency says it’s conducting a food safety investigation

Red Deer Rebels drop preseason tilt to Tigers 5-3

Rebels fail to score after three first period goals

Most Read