Saskatchewan Government Pleased with Supreme Court of Canada Decision
The Supreme Court of Canada released its decision today regarding the Capital Markets Regulatory Authority (CMRA) and ruled that the Memorandum Agreement to create the Cooperative Capital Markets Regulatory System and the Capital Markets Stability Act are constitutional.
The Supreme Court’s decision supports a model of co-operative federalism that provides each province and territory the freedom to determine whether or not it will participate in the Cooperative Capital Markets Regulatory System.
“The Supreme Court of Canada’s decision has confirmed the model for co-operative federalism in Canada,” Justice Minister Don Morgan said. “Unlike the federally imposed carbon tax, which is being applied unevenly across the country based on their evaluation of provincial climate change plans.”
Saskatchewan continues to work with the other participating jurisdictions toward the launch of the new Cooperative Capital Markets Regulatory System, which will maintain strong securities regulations that protect investors while also offering competitive and efficient capital markets.