It is the Fed's that are trying to bring the securities under one
jurisdiction like the SEC in the US, but it is a provincial power
constitutionally. The OSC is not the regulator for any other province and
therefore can't change anything for any other province other than Ontario
tho there is over lap due to the fact a lot of corporations are registered
in Ontario and if you do business in Ontario or legal contracts that
specify the OSC is the governing body you fall under their jurisdiction..
That being said.. I haven't heard that Alberta for instance has agreed to
any transfer or sharing of those powers with the Fed's.. last I knew the AB
gov (finance minister statement ) was not interested.. But politics can
change.. I suppose it comes down to how big a carrot Flaherty can dangle
under the noses of the provinces whether or not we end up with the Canadian
equivalent of the SEC
Check out these links for more info
http://en.wikipedia.org/wiki/Canadian_securities_regulation
http://www.iedm.org/files/janvier08_en.pdf
http://www.securitiescanada.org/
http://www.investorvoice.ca/
If having trading accounts with brokers outside of Canada is an issue and it
would be for me.. Write the PM, Flaherty or your MP or start a petition or
group to oppose it... any or all of those
Cheers
Gary
_____
From: 4XONTARIO@yahoogroups.com [mailto:4XONTARIO@yahoogroups.com] On Behalf
Of 4xOntario
Sent: December 7, 2010 11:11 AM
To: 4XONTARIO@yahoogroups.com
Subject: [4XONTARIO] Canadian regulations?
Dear Members:
The following has been brought to my attention, can anyone verify/comment on
this:
"The Ontario Securities Commission has recently changed the regulatory body
in Canada. Clients from Ontario, Quebec, BC, and Alberta will not be able to
open accounts outside Canada"
Regards,
Moderator_4xOntario
_____
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