PDAC Encouraged by Establishment of Cooperative Capital Markets Regulator
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 09/20/13 -- The Prospectors & Developers Association of Canada (PDAC) is encouraged by the announcement made yesterday by the Finance Ministers of British Columbia, Ontario and Canada that the three jurisdictions will work to establish a cooperative capital markets regulatory system.
"We applaud the Finance Ministers of Ontario, British Columbia and Canada for laying the groundwork for more uniformity in securities regulation across Canada," said Ross Gallinger, Executive Director of the PDAC. "While this is an important step in the right direction, we look forward to learning more details to fully understand the system and if it will indeed reduce regulatory burden and costs."
The PDAC has long called for uniform securities regulation and enforcement across Canada. PDAC members point to regulatory complexity, ever-increasing compliance costs for publicly listed companies and lack of enforcement as significant barriers for capital raising for exploration and mining. Junior mineral exploration companies, which make up the bulk of PDAC's membership, account for approximately 25 per cent of Canada's publicly listed companies and rely on equity financing for grassroots mineral exploration.
"The PDAC has consistently called for a securities regime that is simple, consistent across the country and eliminates redundancies associated with multiple securities regulators," said Gallinger. "Elements of the cooperative system have the potential to address some of these concerns, particularly the commitment to a simplified fee structure and enforcement against misconduct. We stand ready to work with the Finance Ministers of Ontario, British Columbia and Canada on the design elements of the cooperative system to reduce regulatory burden, facilitate capital-raising and maintain the integrity of Canada's capital markets."
About the PDAC ()
The Prospectors & Developers Association of Canada (PDAC) is a national association representing the mineral exploration and development industry with over 10,000 individual and corporate members. The PDAC Convention-the mineral industry's largest annual event-takes place March 2-5, 2014.
Contacts:
Media Contact:
Steve Virtue
Senior Director, Public Affairs and Communications
(416) 362-1969 ext. 225
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 20.09.2013 - 16:22 Uhr
Sprache: Deutsch
News-ID 298786
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 252 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"PDAC Encouraged by Establishment of Cooperative Capital Markets Regulator"
steht unter der journalistisch-redaktionellen Verantwortung von
Prospectors & Developers Association of Canada (PDAC) (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
