Attention News Editors:
OTTAWA, April 21 /CNW Telbec/ - The
Expert Panel on Securities Regulation
in Canada has today officially launched its consultation process. The
appointed in February by federal Minister of Finance Jim Flaherty, is
input to develop a model common securities act for Canada.
"The Minister has given us a clear mandate - to help
create a Canadian
advantage in global capital markets," said Panel Chair, the Honourable
Hockin, P.C. "To that end, we are today issuing a consultation document
will help frame the discussions we will undertake in the months ahead."
The document - now available at the Panel's website
-provides background information, discusses the terms of reference and
series of questions the panel is interested in seeking answers to.
"Our goal is to seek input on the best way forward to
regulation in Canada. To do that, we will seek the views of stakeholders
these issues," said Mr. Hockin.
The consultation process builds upon the positive steps
taken in recent
years by the full range of partners, including provinces, territories
regulators, contributions by private sector groups, and international
practice. Interested parties will have several ways to participate,
by directly contributing their views through the Panel's website. The
deadline for submissions is July 15, 2008.
As well, the
Panel, whose additional members are Ian Bruce, Denis
Desautels, Hal Kvisle, Dawn Russell, Terry Salman and Heather Zordel, is
planning a limited number of face-to-face meetings across the country.
Mr. Hockin also announced the team that will be
supporting the work of
the panel. The University of Toronto's Capital Markets Institute (CMI)
been appointed as the research resource to the Panel. The CMI will
the design and direction of the Panel's research program. Paul Halpern,
Chair in Capital Markets, Rotman School of Management, University of
and Poonam Puri, Associate Professor of Law, Osgoode Hall Law School,
University will jointly carry out the function of research director.
As well, the Chair announced that the law firm of
Stikeman Elliot has
been engaged to provide legal advice and assistance to the Panel and is
specifically tasked with developing the draft model common securities
Recognized nationally and internationally, Stikeman Elliott has offices
Toronto, Montréal, Ottawa, Calgary and Vancouver and its Canadian
among the leading practices in their respective jurisdictions.
The Panel will provide third party advice and
ministers - federal, provincial and territorial - and is expected to
deliver a final report and draft model securities act by the end of
For those who would like to communicate with the Panel, it can be done
the following ways:
Mail: Expert Panel on Securities Regulation in Canada
Fax: (613) 947-2289
For further information: George Bentley, Communications and
Consultations Manager, (613) 947-8613