The launch of Canada’s new federal-provincial securities regulator is facing a further delay until at least the end of this year as officials now say they will not publish the agency’s long-awaited regulations until some time this summer.
The new Co-operative Markets Regulator, which will oversee securities regulation in provinces that opt to join the system, was initially supposed to be up and running on July 1 this year. But delays in drafting legislation and regulations for the agency have pushed the deadline back significantly.
A notice issued Thursday by ministers for the participating governments said the latest plan is to republish an updated version of draft legislation for the agency some time this summer along with the detailed regulations laying out how it will operate. The legislation was originally published last September.
JANET MCFARLAND – The Globe and Mail – April, 16, 2015.
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