Canadian Regulators Delaying Registration for U.S. Brokers? Message Board

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Non-Tech : Canadian Regulators Delaying Registration for U.S. Brokers?

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To: TFF who started this subject	2/19/2002 3:54:07 PM
From: TFF	Read Replies (1) of 26

The BCSC has just launched some far-reaching deregulation proposals. Full details can be found in this link: bcsc.bc.ca:8080/comdoc.n...F8?OpenDocument Here is a key component of the proposal as far as Canadian traders are concerned. "Canadian residents who seek out foreign registrants would not have the protections of Canadian law, but that would be their choice. Our responsibility to protect investors in our markets does not extend to protecting them when they voluntarily and without solicitation choose to do business in foreign markets." This would mean that Canadians would be free to do business with US brokers and US mutual fund companies, providing they didn't solicit our business. They are inviting responses. I urge all Canadians here to respond supporting this concept, whether you live in BC or not (they are holding hearings in other cities), to counter the inevitable negative responses from the brokers and fund companies. This is the first sign of a breaking or ranks amongst the regulators and we must get behind the proposal and build on the opportunity it creates.

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