Ottawa, February 21, 2008
The Honourable Jim Flaherty, Minister of Finance, today announced the chair and members of an expert panel charged with providing advice and recommendations on securities regulation in Canada.
"I am asking the panel to develop a model common securities act to create a Canadian advantage in global capital markets," said Minister Flaherty. "This effort will build on positive steps taken in recent years by the full range of partners, including provinces, territories and regulators, contributions by private sector groups, and international best practice."
The expert panel will provide independent advice and recommendations to ministers-federal, provincial and territorial-on the best way forward to improve securities regulation in Canada.
The expert panel will be chaired by the Honourable Tom Hockin, P.C., former Minister of State (Finance) and former president of the Investment Funds Institute of Canada. Also appointed are:
Also appointed today are special advisors to the panel:
The expert panel will be supported by a small secretariat and other professional resources.
The expert panel will deliver a final report and draft model securities act to Minister Flaherty and to provincial and territorial ministers responsible for securities regulation by the end of 2008. The group will focus on five key areas:
Today's announcement is situated within the Government's Capital Markets Plan, Creating a Canadian Advantage in Global Capital Markets, which was released as part of Budget 2007.
Biographical information on the panel's chair, members and special advisors and on the Executive Director of the secretariat is attached. Also attached are the panel's terms of reference.
For further information, media may contact:
Office of the Minister of Finance
Department of Finance
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