INUVIK, July 9, 2004
Premiers continue to show leadership and make progress toward improving the regulation of the securities industry. Premiers fully support a passport system.
The passport system will allow companies to raise capital across the country based on the rules of their home province or territory. Allowing registrants such as investment dealers to do business across the country based on the market access rules in their home province or territory, will save registrants costs and time. At the same time, having local market conduct rules apply to registrants protects investors in each jurisdiction.
Premiers are also working together to ensure that provincial and territorial legislation promotes appropriate harmonization and co-ordination across jurisdictions, building on the work of the Canadian Securities Administrators.
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