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October 04, 2006 

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October 04, 2006 

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Volume 1 - Final Report
Inside Cover Task Force Letter Table of Contents Chairman's Letter Members of the Task Force Executive Summary Introduction Background
Chapter One - Why Vital Capital Markets are Important to all Canadians - the Features of Canada's Capital Markets Chapter Two - An Overview of Recent Canadian Securities Law Reform Initiatives
Recommendations
Chapter Three - Approaches to Securities Regulation and General Principles Chapter Four - Understanding How Investors Make Investment Decisions and Better Meeting the Needs of Investors Schedule 4A - MERIT - A New Paradigm for Electronic Disclosure Chapter Five - Accessing The Canadian Capital Markets Chapter Six - Regulating Hedge Funds Chapter Seven - Enforcement of Securities Laws
Ideas For Consideration
Chapter Eight - An Idea for Consideration: The Role of Securities Analysts and other "Gatekeepers" in Securities Regulation Chapter Nine - An Idea for Consideration: Insurance against "Misinformation" in Canada's Capital Markets
Underlying Research
Chapter Ten - Analysis of Research Used in the Task Force's Deliberations Schedule 10A - Description of Research Commissioned by the Task Force Chapter Eleven - Recommendations Put Forward by Researchers Commissioned by the Task Force
Appendices
Appendix A - Mandate and Terms of Reference Appendix B - Invitation for Comment Appendix C - Oral Presentations to Task Force Appendix Di - Major Developments in United States Securities Regulation: Securities Offering Reform and Executive Compensation and Proxy Initiatives Appendix Dii - Current Developments in the United Kingdom
Volume 2 - Evolving Investor Protection
Foreword Table of Contents An Analysis of Disclosure Systems
Modernizing Disclosure in Canadian Securities Law: An Assessment of Recent Developments in Canada and Selected Jurisdictions (SARRA) Appendices - Charts (SARRA) Capital-Market Effects of Corporate Disclosures and Disclosure Regulation (LEUZ & WYSOCKI)
How Are Investment Decisions Made?
How Are Investment Decisions Made? (DEAVES)
Insurance Against Misinformation
Insurance Against Misinformation in the Securities Market (BAKER) Insurance Against Misinformation in the Securities Market: Actuarial Aspects (PANJER)
Volume 3 - Evolving Investor Protection
Foreword Table of Contents Investors / Issuers Balance
Towards Effective Balance Between Investors and Issuers in Securities Regulation (ANAND)
New Products and Emerging Risks
A Canadian Framework for Hedge Fund Regulation (FOK KAM) Collapse of Portus Alternative Asset Management Inc. and Norshield Asset Management (Canada) Ltd. (VOORHEIS) Implications of the User of Investment Wrappers (FOK KAM)
Financial Literacy
Investor Education in Canada: Towards a Better Framework (CAKEBREAD)
Volume 4 - Maintaining a Competitive Capital Market in Canada
Foreword Table of Contents Attributes of a Competitive Capital Market
The Role of Securities Regulation in Promoting a Competitive Capital Market (GILLEN) Ideal Attributes of a Marketplace (KIRZNER)
True Local Characteristics of Canada's Capital Markets
The Characteristics of Canada's Capital Markets and the Illustrative Case of Canada's Legislative and Regulatory Response to Sarbanes-Oxley (NICHOLLS) Appendices - Charts (NICHOLLS) Do Companies Go Public Too Early in Canada? (CUMMING) Appendices - Charts (CUMMING) Appendices - XLS Charts (CUMMING) Some Obstacles to Good Corporate Governance in Canada and How to Overcome Them (MORCK)
Balancing of Cost and Benefit
Cost-Benefit Analysis of Canadian Securities Regulation (SCHWARTZ)
Volume 5 - Maintaining a Competitive Capital Market in Canada
Foreword Table of Contents U.S. Securities Regulation Applied to Canada
Well-Known Seasoned Issuers in Canada (PRITCHARD)
Impediments to Free Flow of Capital
Heard on the Street: Interviews with Market Actors on the Future of Canadian Securities Regulation (MACINTOSH)
The LSE's AIM versus TSX Venture Exchange
The Competitiveness of Canadian Stock Exchanges: What Can We Learn from the Experience of the Alternative Investment Market? (ROUSSEAU) The LSE's AIM Market: Effect on Returns and Trading of Canadian Stocks (BOARD & WELLS)
Importing the e-World into Canadian Securities Regulation
Filing and Delivery Requirements under Canadian Securities Legislation (STIKEMAN ELLIOTT LLP) Importing the e-World into Canadian Securities Regulation (KINGSFORD SMITH)
Volume 6 - Strengthening Market Credibility and Integrity
Foreword Table of Contents New Approaches to Enforcement
The Role of Compliance in Securities Regulatory Enforcement (CONDON & PURI) Regulatory Intensity in the Regulation of Captial Markets: A Preliminary Comparison of Canadian and U.S. Approaches (JACKSON) Enforcement and Its Impact on Cost of Equity and Liquidity of the Market (BHATTACHARYA) Critical Issues in Enforcement (CORY & PILKINGTON) Principles and Rules in Public and Professional Securities Law Enforcement: A Comparitive U.S. - Canadian Inquiry (CUNNINGHAM) Appendices (CUNNINGHAM)
An Analysis of Gatekeeper Effectiveness in Canada
A Survey of Corporate Gatekeeper Liability in Canada (BEN-ISHAI) The Effectiveness of Corporate Gatekeeper Liability in Canada (BEN-ISHAI) Thoughts on the Regulation of Investment Analysts in Canada (CHOI)
Role of the Investor in Securities Regulation
Involving Consumers in Securities Regulation (BLACK)
Volume 7 - Written Submissions and Presentations
Foreword Table of Contents Bank of Canada (english/français) The British Columbia Investment Management Corporation (bcIMC) British Columbia, Ministry of Attorney General & Minister Responsible for Multiculturalism British Columbia Securities Commission (BCSC) Burgeonvest Securities Limited Canadian Bankers Association (CBA) Canadian Coalition for Good Governance (CCGG) The Canadian Listed Company Association (CLCA) The Canadian Security Traders Association (CSTA) The Canadian Institute of Chartered Accountants (CICA) Certified General Accounts (CGA) Le Conseil des fonds d'investissement du Québec (CFIQ) (français) EGT Mining Consultants Fidelity Investments Canada Limited Global Securities Corporation Investment Dealers Association of Canada (IDA) The Investment Funds Institute of Canada Jarislowsky Fraser Limited Lowry, Doug (letter 17Oct05) McLean & Partners Wealth Management Ltd. Mutual Fund Dealers Association of Canada (MFDA) Northern Securities Inc. Pension Investment Association of Canada (PIAC) Pope & Company The Prospectors and Developers Association of Canada (PDAC) The Quebec Investment Funds Council (QIFC) Sibold Q.C., Stephen P. (submission 24Oct05) Small Investor Protection Association (SIPA) Winnipeg Commodity Exchange Inc.

Demo: MERIT (Model for Effective Regulatory Information Transfer)

Please click one of the following to print entire volume:

Volume 1 - Final Report Volume 2 - Research Studies Volume 3 - Research Studies Volume 4 - Research Studies Volume 5 - Research Studies Volume 6 - Research Studies Volume 7 - Comments by Industry Participants