Finally a real SEC in Canada?
Some good news for our badly regulated Canadian Stock Markets: it seems that Flaherty thinks that there is enough support from provinces for establishing a single regulator for securities in Canada.
That might help curb all the frauds at different levels or at least give a stronger way to fight back for the fraud victims. With some luck, that new "Canadian SEC" could also act on the insider trading going on in Canada. (You don't believe there is? Look at this article.)
It's time that Canada gets a real financial backbone!
2 comments:
Jurisdictional issues is only one of the problems that we face. As the insider trading article indicates, you need to have the resources (ie. money and people) in place to be able to properly investigate and prosecute possible violations.
I totally agree with your comments. Larry MacDonald references a number of other studies that found the same problem in Canada ... see March 28 and 29 posts at
http://blogs.canadianbusiness.com/advansis/?mod=for&act=dis&eid=1
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