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

Parker Thompson makes a big splash to start the 2019 Road to Indy race season

Double victories in St. Petersburg indicate 2019 could be Thompson’s best season yet

NDP Leader Rachel Notley stops in Red Deer on campaign trail

Notley promises hospital expansion, cath lab, pipelines and energy industry expansion

Red Deer Mayor Tara Veer discusses thoughts on federal budget

New federal infrastructure funding likely coming to Red Deer

Alberta Election called for April 16th

Upcoming election will be about who is fit to be Premier, says Notley

After mosque attacks, New Zealand bans ‘military-style’ guns

The gunman killed 50 in a Christchurch mosque

Pot industry welcomes decreased edibles tax, but unhappy medical tax remains

Taxes can increase the cost of medical cannabis by as much as 25 per ceny

‘It has to send a message:’ Broncos families await sentencing for truck driver

Jaskirat Singh Sidhu pleaded guilty to 29 counts of dangerous driving and apologized in court

MPs continue voting marathon as Tories protest shutdown of Wilson-Raybould motion

Multiple MPs have resigned from Trudeau’s Liberal cabinet

Carbon tax, oil and gas investment dominate Day 2 of Alberta campaign

NDP pledges more oil and gas processing, UCP slams provincial and federal governments on carbon tax

Another gun seized by police in Wetaskiwin

Maskwacis RCMP arrest two youths, seize firearm in Wetaskiwin

Sundre RCMP looking for 4 missing bison

A Sundre bison rancher is missing four bison from January and RCMP ask for help from the public

Politicians hitting the road for votes in Alberta election campaign

NDP Leader Rachel Notley and United Conservative Leader Jason Kenney have officially launched campaigns

Calgary woman convicted in son’s strep death seeking full parole

The trial heard that Ryan was dead well before his mother called 911 to say he had stopped breathing

Most Read