Quebec’s top court says Ottawa’s plan to set up a national securities regulator is unconstitutional.
A majority of the five justices from the Quebec Court of Appeal who studied the matter ruled on Wednesday that securities regulation falls under provincial jurisdiction, not federal.
Ontario, British Columbia, Saskatchewan, New Brunswick, Prince Edward Island and the Yukon have all signed on to the proposed national regulator which, if implemented, would be expected to help oversee stock markets by policing abuses and securities fraud.
Read more at The Chronicle Herald
