September 16, 2005
In June of this year, the Investment Dealers Association of Canada
established the Task Force to Modernize Securities Legislation.
The Task Force will publish its final report and recommendations
by the fall of 2006.
Broadly speaking we are mandated to make recommendations with two
goals in mind: to modernize securities regulation in Canada, and
to enhance or maintain the competitiveness of Canada’s capital
markets. In developing our recommendations, we believe that it is
important to solicit the views of all stakeholders as to ways in
which these two goals might be achieved. To that end, we will be
providing a number of opportunities for stakeholder input.
First, we are seeking written submissions from interested parties
on any of the issues the Task Force will be examining. The issues
Finding a balance
between cost and effectiveness of modern governance
Access to capital
As a guideline to assist you in your comments to us, we would like
to refer you to our mandate and terms of reference. The Mandate
does NOT ask us to make recommendations as to what is broken and
needs fixing. Of course, there is a corrective aspect to our Mandate
but the focus, in the context of our Mandate, should be on bringing
our laws into sync with the world in which securities markets currently
operate and may be expected to operate henceforth.
When writing to us, please indicate if you also would like to present
to us in person. Depending on the number of people who would like
that opportunity, it may not be possible to meet with each of you.
Should that be the case we will select representatives of various
points of view and representatives of various stakeholder communities
to ensure that we are fully briefed as to all perspectives.
While it is possible that we may be available to hear from stakeholders
more than once across the country, for the moment our plan for the
balance of 2005 includes availability as follows:
November 17 Vancouver
November 18 Calgary
December 8 Toronto
December 9 Montreal.
The Task Force expects to attend in Atlantic Canada
early in 2006.
We note the significant contribution to the debate with respect
to the modernization of securities legislation made through the
recent reform proposals and studies developed and released by the
various Canadian securities regulators. Please be assured that we
are fully informed of all such proposals.
Written submissions should be made by October 31, 2005 and should
be emailed to email@example.com
or mailed to:
Task Force to Modernize Securities Legislation in Canada
Suite 1600, 121 King Street West,
Toronto, ON M5H 3T9.
We look forward to your participation.