CBA Response to Supreme Court of Canada Decision on Securities Regulation
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 12/22/11 -- The Canadian Bankers Association (CBA) today noted that the Supreme Court has determined the federal government has the constitutional right to regulate important aspects of the securities markets in Canada.
"We continue to believe that a single, Canadian regulator would offer improved investor protection and enhance the ability of law enforcement and prosecutors to achieve better criminal enforcement outcomes across Canada," said Terry Campbell, President of the Canadian Bankers Association. "It would also eliminate the fragmentation and duplication that currently exists with the provincial securities systems."
Canada is the only industrialized country without a national securities regulator. The recent financial crisis showed how important it is to have a coherent regulatory system that can respond quickly to international and domestic developments. We have a single prudential regulator and a single consumer regulator, but Canada still lacks a single securities regulator. Canada still needs a single national voice on the international stage.
About the Canadian Bankers Association
The Canadian Bankers Association works on behalf of 53 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 267,000 employees. The CBA advocates for effective public policies that contribute to a sound, successful banking system that benefits Canadians and Canada's economy. The Association also promotes financial literacy to help Canadians make informed financial decisions and works with banks and law enforcement to help protect customers against financial crime and promote fraud awareness. .
Follow the CBA on Twitter: .
Contacts:
Canadian Bankers Association
Maura Drew-Lytle
(416) 362-6093, ext. 338
Cell: (416) 918-2777
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Datum: 22.12.2011 - 17:49 Uhr
Sprache: Deutsch
News-ID 99577
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Personal Finance
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