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

Revelstoke Rod and Gun club supports fishing proposal with conditions

The proposal considers reopening Revelstoke Reach of the Columbia Reach to angling

Growls and Hugs for Jan. 16

Someone or something got your hackles up? Or maybe someone made you… Continue reading

Glimpses of Revelstoke’s past for Jan. 16

125 Years Ago: Kootenay Star, Jan. 13, 1894 Three feet of snow… Continue reading

Revy Let’s Talk…About those awful noises

Stacie Byrne CYMHSU Project Lead “Nails on a chalk board, clicking together… Continue reading

LETTER: Traffic on Victoria Rd in Revelstoke

An MVA at Charles & Victoria earlier in December should be a… Continue reading

B.C. storm totals $37M in insured damages

The December storm wreaked havoc on B.C.’s south coast

B.C. chief says they didn’t give up rights for gas pipeline to be built

Hereditary chief: no elected band council or Crown authority has jurisdiction over Wet’suwet’en land

Condo rental bans may be on way out with B.C. empty home tax

Many exemptions to tax, but annual declarations required

UPDATE: B.C. boy, aunt missing for three days

The pair are missing from Kamloops

Daredevil changes game plan to jump broken White Rock pier

Brooke Colby tells council daredevil event would help boost waterfront business

Liberal bows out of byelection after singling out Jagmeet Singh’s race

Karen Wang says she made comments online that referenced Singh’s cultural background

Truck hauling compressed gas for ‘virtual pipeline’ crashes on B.C. highway

Driver charged and highway closed for nine hours - containers did not rupture

Canucks rookie Elias Pettersson ‘feeling good’ after knee injury

Pettersson said he wasn’t feeling any pain during Wednesday’s skate

Most Read