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	3/12/2002 12:32:13 PM
From: TFF	of 26

CSA Announce "Uniform Securities Legislation" Project Calgary, AB -- March 8, 2002 --The Canadian Securities Administrators (the "CSA") have made a strong commitment to eliminating the differences in provincial and territorial securities law by embarking on a project to develop uniform securities legislation. This initiative, which the CSA call the USL Project, is part of a broader proposed strategy of regulatory reform that aims to reduce the burden of regulation on market participants and make regulation more effective. The CSA recognize that much of the regulatory burden is due to each of Canada's provinces and territories having different securities legislation. The objective of the project is to eliminate these differences by developing a uniform act and rules within two years for adoption across Canada. The members of the Steering Committee overseeing the project are: Stephen Sibold - Chair of the Steering Committee and Chair of the Alberta Securities Commission Doug Hyndman - Chair of the British Columbia Securities Commission Chair Don Murray - Chair of the Manitoba Securities Commission Paul Moore - Vice-Chair of the Ontario Securities Commission Claire Richer - Commissioner, Québec Securities Commission Les O'Brien - Vice-Chair of the Nova Scotia Securities Commission "The USL Project is an exciting opportunity to make a momentous improvement to Canada's regulatory system," said Stephen Sibold, Chair of the Steering Committee and the ASC. "Uniform securities legislation will encourage participation in Canada's markets." CSA members have also published a notice that describes the Project in more detail and invites comment. The notice can be found on several commission websites. The CSA is the umbrella organization representing the 13 provincial and territorial securities commissions. -30-

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