I’ve harped on this subject before.I think canada is a jurisdictional nightmare for issuing securities. I ran in to it years ago while using Blind Pools (JVC’s, VCP’s and more recently the CPC’s) for RTO’s in tech financing. You’d be ok to get investors in Alberta or Vancouver, but not necessarily in Ontario or New Brunswick or Nova Scotia. You’d have to get a lawyer with offices in, or knowledge of, each jurisdiction. It sucked.Well now the IMF (even with its own issues) is wondering why we haven’t gotten our act in gear.
“Canada is currently the only G-7 country without a common securities regulator, and Canada’s investors deserve better,” IMF managing director Rodrigo de Rato told the Economic Club of Toronto on Tuesday.”Establishment of a common securities regulator would be good policy, and it would be conducive to mutual recognition of securities regulation with other countries, including the United States,” he said.
Agreed. His comments do not surprise me in the least, sadly I have seen only baby steps in this direction and provincial/federal squabbling at every turn.Considering Jim Flaherty saw this topic as a ‘priority’ its been given very little time or (noticeable) effort since last years budget.