Released on July 9, 2014
Today, Saskatchewan’s Minister of Justice and Attorney General, Gordon Wyant, signed the agreement to join the Cooperative Capital Markets Regulatory System (CMR), bringing Canada a step closer to a national regulator.The CMR system establishes a common regulator for participating jurisdictions that will create important national reforms while still allowing provinces to promote local needs. The CMR is expected to ensure a seamless set of rules, better coordinate enforcement action to protect investors, and reduce red tape for businesses across participating jurisdictions.
“We have entered into the CMR because of the benefits to Saskatchewan investors and businesses,” Wyant said. “I am proud of the work we have done to ensure that Saskatchewan’s needs continue to be met, while strengthening Canada’s regulatory system.
Saskatchewan will maintain its regulatory offices in Regina and add a Deputy Chief Regulator responsible for a territory including Saskatchewan. The Regina offices will continue to provide Saskatchewan with a range of services and will be empowered to make day-to-day decisions to meet the needs of investors and local industry.
The province of New Brunswick also signed the agreement today.
For more information, contact:
Daniela Machuca
Financial and Consumer Affairs Authority of Saskatchewan
Regina
Phone: 306-798-4160
Email: daniela.machuca@gov.sk.ca