Bay Street is about to get its first peek at proposals to modernize Ontario’s capital markets.
The province’s Capital Markets Modernization Taskforce is poised to publish its preliminary report in the coming weeks, according to people familiar with the matter. (The Globe and Mail is not identifying the sources because they are not authorized to speak publicly about the process.)
Task force members, some of the business community’s sharpest minds, will offer their two cents worth on updating Ontario’s aging securities legislation. But the most important advice those savants can provide is urging the Ford government to jump-start plans for the pan-Canadian securities regulator.
The long-promised Capital Markets Regulatory Authority is the single most effective way to ensure our capital markets regain their competitive edge, to improve investor protection and mitigate systemic risks.
Task force members would be doing the entire country a favour if they give the CMRA a big thumbs-up and urge legislators to set an expeditious timeline for its launch.