The government is about to unveil plans surrounding a national securities regulator.
Finance Minister Jim Flaherty is expected to unveil a government plan Wednesday to create a single Canadian securities regulator.
Currently, each province and territory runs its own regulator…
It’s about freakin’ time.
I’ve had my mutual funds license since about 1994/95. And let me tell you, it’s a major pain in the ass when you’re dealing with a customer who is from another province. Sure, there are parts of the country where it wouldn’t likely matter, but in Ottawa – with Gatineau right next door – it’s a major issue.
Not having a national regulator really hamstrings the ability for people like me to provide sound advice to customers. If I can’t legally give that advice, or provide the service, how does the customer benefit? Read More…
Most of my funds are in Ontario and i am a resident of British Colombia and so i’ve experienced the sting of having to discuss issues. Something like a national regulator would take the frustration away, well, at least some of it.
Flaherty was on CBC the other day giving more details and so far so good. B)
All in all its a thing that should have been here decades ago. What took so long?
If you read the full plans there are some annoying issues that personally i feel might cause more bad than good.