A report initiated last year by Canada’s finance minister Jim Flaherty has called for the country’s 13 provincial securities markets regulators to be restructured as a single national body, which might also absorb the derivatives regulator.
Thomas Hockin, chair of the Expert Panel on Securities Regulation, wrote in the report that Canada “is the only developed country without a national securities regulator”, and that parliament has the authority to create one by legislation. That said, some provinces, such as...