CANADA: Delay to legislation on Canada national securities regulator

Monday February 3 2014

Following on from the September 2013 announcement of the Ministers of Finance of British Columbia, Ontario and Canada on the establishment of a cooperative capital markets regulatory system (CCMR), there has been announced a delay to the publication of draft rules and regulations implementing the new Canadian regulator.

The governments of British Columbia, Ontario and Canada have agreed to extend the milestone date for the draft provincial capital markets legislation, draft complementary federal legislation and CCMR memorandum of agreement to April 30, 2014 (and to extend the milestone dates for the draft initial regulations and the integration agreements to June 30 and August 29, 2014, respectively). It is anticipated the changes will provide a window of opportunity for broader input in the development and finalization of the draft legislation and the framework agreements relating to the CCMR.

The governments continue to work to operationalize the CCMR by 1 July 2015.

Click on the above link for the press release.