The Canadian federal government has charged a panel of experts with investigating possibilities for significant securities regulation reform.  Notably, the panel has been asked to “develop a model common securities act,” according to a press release issued by the Honourable Jim Flaherty, the Canadian Minister of Finance.  Such a uniform approach could considerably alter the Canadian regulatory landscape, which currently consists of provincial and territorial securities regulations that vary from jurisdiction to jurisdiction.  For example, click here to read a post on the effect of recent securities regulation changes in Ontario, Alberta and Manitoba.

The new initiative results from a meeting held last summer between Mr. Flaherty and the provincial and territorial finance ministers.  While the approach is intended to parallel existing efforts to streamline aspects of securities regulation, some have predicted that resistance from certain provinces, including Ontario and Quebec, may shape the nature and extent of any proposed harmonization.  The panel, which will be chaired by the Honourable Tom Hockin, P.C., former Minister of Finance, is expected to release a final report by the end of 2008.

Click here to read the official press release issued by the Canadian Department of Finance.