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
This article is summarized by Canadian Fraud News Inc.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.