The Portfolio Management Association of Canada (PMAC) fully supports the recent announcement of the Ministers of Finance of British Columbia, Ontario and Canada regarding the establishment of a new cooperative capital markets regulatory system in Canada. PMAC has been a strong supporter and vocal advocate for a common securities regulator for many years.
We have long advocated that Canada adopt a national securities regulator and get in step globally with the administration of securities regulation. We truly believe that a common securities regulator is in the best interests of Canadians. We are pleased that the Federal Government has prioritized the creation of a national securities regulator and that it has delivered on its promise to make this a reality for Canada. We applaud Ontario and British Columbia’s leadership. We, too are hopeful that the other provinces and territories will see the wisdom of participating in a cooperative securities regulator and that it has broad and swift acceptance. To this end, we plan to advocate to all non-participating provinces and territories the importance of joining the cooperative securities regulator.