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

Youth business group starts Langley chapter

Students in Grades 10 to 12 can learn about business as part of JA.

Suspects sought in Langley thefts, frauds

Police released surveillance photos from recent petty thefts.

Times View: Saving is a start when prepping for a recession

Whether a recession is coming or not, being financially prepared is a partial solution.

Offender reintegration program gets $1.23 million in federal funding

Abbotsford-based No One Leaves Alone project also serves Mission, Chilliwack and Langley

Langley police seek suspect in fake cop case

A warrant has been issued for the man who allegedly impersonated a Mountie in Langley in 2017.

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

Ex-Mountie involved in Taser death at Vancouver airport sues government

Kwesi Millington claims he acted in accordance with RCMP training

Forestry and legumes shippers say railways prioritized other commodities

Companies say they lost millions on Port of Vancouver shipments

Surrey farmers taking stock of revamped Canada Food Guide

Products that were once big at the table — like meat and dairy — have been put on the back-burner

Surrey Pretrial inmate lodges human rights complaint for not being fed kosher food

Inmate claims denial of her request for kosher diet violates Section 8 of the Human Rights Code

Richmond businesses struggle to hire and keep staff because of high cost of housing

Chamber of commerce calls for diverse housing options, redevelopment of George Massey corridor

LETTER: Seniors home care, day programs expanding, Adrian Dix says

B.C. health minister responds to latest Seniors Advocate report

Most Read