OSC chair discusses creation of national securities regulator, recently blocked by the Supreme Court, at Torys' M&A Seminar

Give National Regulator Another Shot: OSC's Wetston

January 18, 2012

When the Supreme Court of Canada levelled its unanimous decision that blocked the creation of a national securities regulator, business leaders voiced their distaste. The Ontario Securities Commission, however, was relatively mute, simply saying it would review the decision.

A month later, OSC chair Howard Wetston has made up his mind. "I wouldn’t put a bullet in it," he said on a panel hosted by Torys on Wednesday.

This isn’t to say that he doesn’t respect the Supreme Court’s ruling. He does. “Policy has to reflect the world that we live in, and unfortunately, the world is a messy place,” he said. But the Court laid out areas in which it believes federal regulation could be approved, and Mr. Wetston wants to see some progress there.

"I'll accept the Canadian way, but I think the provinces and federal government should give it another go," he said.

Read the full article here.


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