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

Fuel and copper wire thefts in Columbia Valley

Columbia Valley RCMP report October 7-13th

Stabbing in Radium leads to high-risk takedown

Two men arrested in relation to attack

Volunteers wanted for housing task force

District of Invermere seeks range of participants for study

Former Liberal candidate endorses Greens in Kootenay-Columbia

Don Johnston says he’ll be voting for Abra Brynne on Oct. 21

Invermere buys Athalmer land for $5 million

Celebratory barbecue to come

ELECTION 2019: Climate strikes push environment to top of mind for federal leaders

Black Press Media presents a three-part series on three big election issues

Advanced polls see 29 per cent increase in voter turn out from 2015

Some 4.7 million people took part, says Elections Canada

Cheating husband sues mistress for gifted ring after wife learns about affair

The husband gave his mistress $1,000 to buy herself a ring in December 2017

Pot use admission at U.S. border snagging Canadian boomers, says lawyer

A waiver to enter the U.S. can cost $2,000 and isn’t a guarantee

Health concerns over vaping cast haze over Canadian cannabis market expansion

More than 1,000 people in the United States, and a handful in Canada, have developed a lung ailment

UPDATE: British couple vacationing in Vancouver detained in U.S. after crossing border

CBP claims individuals were denied travel authorization, crossing was deliberate

After losing two baby boys, B.C. parents hope to cut through the taboo of infant death

Oct. 15 is Pregnancy and Infant Loss Awareness Day in B.C.

B.C. massage therapist reprimanded, fined for exposing patients’ breasts

Registered massage therapist admits professional misconduct

Most Read