The Expert Panel on Securities Regulation will provide advice and recommendations to the Minister of Finance and the provincial and territorial Ministers responsible for securities regulation on the following:
- The objectives, outcomes, and performance measures that will best anchor securities regulation and the pursuit of a Canadian advantage in global capital markets.
- How Canada could best promote and advance proportionate, more principles-based securities regulation, starting from existing harmonized legislation and national and multilateral regulatory instruments, with a view to creating a Canadian advantage in global capital markets.
- How proportionate, more principles-based regulation could facilitate and be reinforced by better and more coordinated enforcement, which could include a separate securities tribunal.
- How this approach to regulation could be implemented under a passport system or under a common securities regulator.
- A model common securities act and a transition path, including key steps and timelines, that participating provinces and territories could adopt to effect proposed changes to the content, structure, and enforcement of regulation.
The Expert Panel will draw on global best practices and build on the strengths of Canada’s capital markets. It will also review efforts to date to harmonize and simplify Canada’s regulatory system.
The proposals of the Expert Panel will be respectful of the jurisdictional framework for securities regulation in Canada and will allow willing participation of provinces and territories.