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

Three drivers found impaired, most sober during holidays, RCMP says

Three drivers in the Burns Lake area were caught drunk driving during… Continue reading

Telkwa mayor hopes to draw new business to the north

The mayor of Telkwa is looking to draw new opportunities to the… Continue reading

CNC earmarks $100,000 towards 94 student entrance awards

The College of New Caledonia (CNC) is dedicating $100,000 towards 94 student… Continue reading

Granisle Emergency Social Services team

(L-R) Kathy Bedard, Morris Michayluk, Jessie Zhu, Bryce Hunsaker and Wendy Curtis.… Continue reading

Campaign aims to inform, dispel stimga around dementia

Across Burns Lake during Alzheimer’s Awareness Month, brave and passionate voices are… Continue reading

VIDEO: Here’s what the B.C. legislature officers are accused of buying

Personal trips, purchases, alcohol and more laid out in 76-page report by Plecas

Arrest made in case of incapacitated woman who gave birth

A 36-year-old nurse has been arrested and charged with sexual assault

B.C. dairy farmers say milk cup is half full in new Canada Food Guide

Despite what seems like a demotion, B.C. Dairy Association insists its inclusion is still integral

$20K pay gap between women, men in Canadian tech jobs

The report defines tech workers as people either producing or making extensive use of technology, regardless of industry

Catholic student says he didn’t disrespect Native American

Many saw the white teenagers, who had travelled to Washington for an anti-abortion rally, appearing to mock the Native Americans

Former Blue Jays ace Roy Halladay voted into Baseball Hall of Fame

M’s legend Edgar Martinez, Rivera, Mussina also make the grade

Why would the B.C. legislature need a firewood splitter?

First sign of police involvement in investigation of top managers

New Canada Food Guide nixes portion sizes, promotes plant-based proteins

Guide no longer lists milk and dairy products as a distinct food group

Most Read