Howard Davies, the chairman of the U.K. Financial Services Authority, once said in a speech, Unless you have a clear idea of why you regulate, then you run serious risks of being deflected into unprofitable and unjustifiable areas. Unfortunately, the OSC is ignoring this philosophy, and is taking a regulation everywhere approach to Canadian capital markets.
canadian securities
August 21, 2002
2:00AM
May 30, 2002
2:00AM
One has to wonder how serious the Crawford Committee is about this recommendation. Its report contains no cost-benefit analysis on the numerous recommendations in their report which, if implemented, would lead to a new explosion in regulatory and compliance costs.
May 2, 2002
2:00AM
Over the past decade, oversight of the SROs has become tighter. For example, oversight of Canadian exchanges formerly consisted of approvals for changes to rules and bylaws, but over the last decade the commissions have moved towards a much more micro-approach that now includes comprehensive examinations of an exchanges operations. These examinations extend beyond the exchanges self-regulatory activities to cover operational and financial integrity as well.
February 20, 2002
2:00AM
The British Columbia Securities Commission (BCSC) has recently released a paper, New Concepts for Securities Regulation that contains a number of proposals for Canadas provincial and territorial securities regulators that should give investors reason to stand up and cheer. Most importantly, the paper proposes securities regulators begin shedding their paternalistic attitudes that prevent them from recognizing that other jurisdictions, including the US, offer adequate regulatory regimes.