2006 Western Premiers’ Conference

Gimli – May 30, 2006 -- Western Premiers today reiterated their support for the passport system of securities regulation. The passport system gives market participants access to capital markets in multiple jurisdictions by dealing with the regulator and the law of its principal jurisdiction. Western Premiers also endorsed the ongoing provincial and territorial work to develop highly harmonized, streamlined and simplified securities laws and ensure efficient capital markets .

Securities regulation is an area of provincial and territorial jurisdiction. Western Premiers noted that in the recent federal budget, the federal government indicated a desire to engage provinces and territories in a discussion of moving towards a single securities regulator.

Provinces and territories are making significant and meaningful progress through the implementation of the passport system and do not support the proposal to establish a single regulator.

Western Premiers also encourage Ontario to formally join all other provinces and territories and become a fully participating member in developing the passport system.

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Contact Information:

Jonathan Hildebrand
Director of Cabinet Communications
Province of Manitoba
204-945-1494