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

UPDATE: Wetaskiwin hotel up in flames, high school closed due to smoke

Fire crews have been dealing with a fire at the historic Rose Country Inn

Remember When: Resource-rich Bashaw in 1915

The second part to the series on Bashaw’s welcoming book showcases the area resources

Pair arrested in rural central Alberta armed robberies

Two Red Deer men facing a slew of charges after weekend crime spree

PHOTO: Bashaw 4-H speaker results

Well done to the Bashaw 4-H speakers recently

Five highlights in the 2019 federal budget

Latest budget includes a sprinkling of money for voters across a wide spectrum

Facebook to overhaul ad targeting to prevent discrimination

The company is also paying about $5 million to cover plaintiffs’ legal fees and other costs

2019 BUDGET: As deficit grows, feds spend on job retraining, home incentives

Stronger economy last year delivered unexpected revenue bump of an extra $27.8 billion over six years

Newfoundland man caught after posting photo of himself drinking and driving

The 19-year-old took a photo of himself holding a beer bottle and cigarette while at the wheel

Here are five political leaders campaigning in Alberta’s spring election

Rachel Notley, Jason Kenney, Stephen Mandel, David Khan, and Derek Fildebrandt

UPDATE Leduc RCMP say sexual assault claim was false

UPDATE Leduc RCMP say investigation revealed sexual assault never took place

Fought to unite Alberta conservatives: Former MP Kenney ready to run for premier

Kenney, 50, was born in Oakville, Ont., raised in Saskatchewan, and spent his adult years in Alberta

Alberta Premier Rachel Notley wants chance to ‘finish that job’

Notley, 54, is the daughter of the late Grant Notley, who led the NDP from 1968 to 1984

PHOTOS: Massive fire at Wetaskiwin’s Rigger’s Hotel

Multiple fire departments involved, building badly damaged

Most Read