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Expert Panel on Securities Regulation in Canada Launches Public Consultations

 

Attention News Editors:
 

OTTAWA, April 21 /CNW Telbec/ - The Expert Panel on Securities Regulation
in Canada has today officially launched its consultation process. The Panel,
appointed in February by federal Minister of Finance Jim Flaherty, is seeking
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 Thomas
Hockin, P.C. "To that end, we are today issuing a consultation document that
will help frame the discussions we will undertake in the months ahead."
     The document - now available at the Panel's website www.expertpanel.ca

-provides background information, discusses the terms of reference and poses a series of questions the panel is interested in seeking answers to.
     "Our goal is to seek input on the best way forward to improve securities
regulation in Canada. To do that, we will seek the views of stakeholders on
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 and
regulators, contributions by private sector groups, and international best
practice. Interested parties will have several ways to participate, including
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 also
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) has
been appointed as the research resource to the Panel. The CMI will assist in
the design and direction of the Panel's research program. Paul Halpern, TSX
Chair in Capital Markets, Rotman School of Management, University of Toronto
and Poonam Puri, Associate Professor of Law, Osgoode Hall Law School, York
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 act.
Recognized nationally and internationally, Stikeman Elliott has offices in
Toronto, Montréal, Ottawa, Calgary and Vancouver and its Canadian offices are
among the leading practices in their respective jurisdictions.
     The Panel will provide third party advice and recommendations to
ministers - federal, provincial and territorial - and is expected to deliver a final report and draft model securities act by the end of 2008.

For those who would like to communicate with the Panel, it can be done in
the following ways:


E-Mail: commscons@expertpanel.ca


Mail: Expert Panel on Securities Regulation in Canada
Ottawa, ON
K1A 0G5
Fax: (613) 947-2289


For further information: George Bentley, Communications and
Consultations Manager, (613) 947-8613