Canada Financial Regulation Essay

1198 WordsDec 8, 20115 Pages
Canadian Regulatory Landscape Individual Term Paper Abstract In McKay report to Expert Panel on Securities Regulation, it has been 10 years since the discussion about improvement on Canadian Regulatory Framework that indicate changes have to be done. Major and minor obstacles have been debated since which calls for action of changes. In this research I will try to explain how and why changes are needed for securities regulation in Canada in order to bring our capital market compete-able with the rest of the world while in the same time provides high securities for all the stakeholders and backed by the federal government. Major obstacles of changes in the last 10 years In my opinion, there are four obstacles which makes…show more content…
The transition office has also established transition plans which will guide the new regulator with its anticipated regulatory approach, through its governance structure, organization design and implementation. Additional information provided by Department of Finance of Canada furthermore explained that once favorable ruling received from the Supreme Court of Canada, the government of Canada will introduce the securities act to parliamentary legislative process. Changes to new regime of a national securities regulation IIROC to Expert Panels IRROC is the national self-regulatory organization which oversees all investment dealer and trading activities on debt and equity marketplace in Canada. Created through consolidation of the Investment Dealer Association of Canada and Market Regulation Services Inc. they sets high quality regulatory and investment industry standard, protect investor and strengthen market integrity and also maintaining efficient and competitive capital market. In August 2008, IIROC submitted report to the expert panel which includes the reasoning behind why it is formed. In the submission, IIROC explains the benefit of incorporating two SRO which are: 1. The elimination of potential regulatory gap or overlaps arising from member regulation and market regulation
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