Close X
Friday, January 10, 2025
ADVT 
National

Businessman William Black Named Chairman For National Securities Regulator

The Canadian Press, 24 Jul, 2015 01:17 PM
    TORONTO — Nova Scotia businessman William Black has been named the chairman of the expert board of directors for the proposed national securities regulator.
     
    Black served as the president and CEO of Maritime Life from 1995 to 2004 and has served on a number of boards, including the Bank of Canada's.
     
    He ran for the leadership of the Nova Scotia Progressive Conservatives in 2006, but lost to Rodney MacDonald, who later became premier.
     
    Canada is the only country in the G20 that does not have a national securities regulator, and Ottawa's plans to implement one have been mired in delays.
     
    If it proceeds, the national regulator will be structured as a co-operative body that will be run by all of the participating provinces and territories, which currently include Ontario, British Columbia, New Brunswick, Saskatchewan, Prince Edward Island and Yukon.
     
    The Co-operative Capital Markets Regulator would oversee stock markets by policing abuses and securities fraud. The agency would also administer a single set of regulations and would be funded through a single set of fees.
     
    Under the current system, regulation of the capital markets falls to each individual province or territory.
     
    Quebec has said it will go to court to challenge the constitutionality of creating a national regulator. The province has long argued that the Constitution sets out that the securities industry falls under provincial jurisdiction.
     
    Alberta has also opposed the notion of creating a federal regulator, although B.C. Finance Minister Mike de Jong says the election of an NDP government in the province may change the game.
     
    "We've barely begun conversations with the new government about this matter," he said.
     
    "They are, of course, still fresh in office, so we'll pursue the conversation. I'm hopeful. I have always made the case to my colleagues in Alberta that, done properly, this will have real benefits for Alberta."
     
    The ministers involved in the initiative are hoping the agency will be fully operational in the fall of 2016.
     
    The Investment Industry Association of Canada said in a statement that it applauds the appointment of Black as the chairman of the regulator's board of directors, calling him a "proven leader in the business community."
     
    "Mr. Black has the requisite knowledge and experience in financial markets, has worked closely with the regulatory community and has a strong understanding of public policy," the organization said.

    MORE National ARTICLES

    Prime Minister Stephen Harper announces expansion of Rouge National Urban Park

    Prime Minister Stephen Harper announces expansion of Rouge National Urban Park
    PICKERING, Ont. — Prime Minister Stephen Harper says the federal government will more than double its initial contribution to Rouge National Urban Park.

    Prime Minister Stephen Harper announces expansion of Rouge National Urban Park

    RCMP Charge B.C. Man Othman Ayed Hamdan With Terrorism Offences For Posting ISIS Propaganda Online

    RCMP Charge B.C. Man Othman Ayed Hamdan With Terrorism Offences For Posting ISIS Propaganda Online
    VANCOUVER — A man from northern British Columbia has been charged with three terrorism-related counts, accused of posting Islamic State propaganda online.

    RCMP Charge B.C. Man Othman Ayed Hamdan With Terrorism Offences For Posting ISIS Propaganda Online

    Pilot Battling Wildfires In B.C. Interior Escapes Injuries After Single-Engine Water Bomber Crashes

    Pilot Battling Wildfires In B.C. Interior Escapes Injuries After Single-Engine Water Bomber Crashes
    VANCOUVER — A pilot battling wildfires in British Columbia's Interior escaped serious injury after crashing his single-engine plane into a lake while scooping water, says a spokesman for the Transportation Safety Board.

    Pilot Battling Wildfires In B.C. Interior Escapes Injuries After Single-Engine Water Bomber Crashes

    Coroner Identifies James Butters As The Man Shot ByPort Hardy RCMP; Police Watchdog Seeks Witnesses

    Coroner Identifies James Butters As The Man Shot ByPort Hardy RCMP; Police Watchdog Seeks Witnesses
    James Butters, who was also known as James Hayward, died Wednesday morning near the intersection of Highway 19 and Granville Street in Port Hardy.

    Coroner Identifies James Butters As The Man Shot ByPort Hardy RCMP; Police Watchdog Seeks Witnesses

    Conservation Officer Called Killing Bear Cubs 'Needless,' Says Leaked Documents

    Conservation Officer Called Killing Bear Cubs 'Needless,' Says Leaked Documents
    VICTORIA — A conservation officer in British Columbia credited with sparing the lives of two orphaned bear cubs apparently told his superiors that his duties don't include the needless killing of a baby animal.

    Conservation Officer Called Killing Bear Cubs 'Needless,' Says Leaked Documents

    Canadian Nurse Fears Nepal's Quake Victims Forgotten As Need Remains Dire

    Canadian Nurse Fears Nepal's Quake Victims Forgotten As Need Remains Dire
    KAMLOOPS, B.C. — A nurse practitioner from Williams Lake, B.C., hopes Canadians haven't forgotten the victims of two massive earthquakes in Nepal.

    Canadian Nurse Fears Nepal's Quake Victims Forgotten As Need Remains Dire