P.E.I. weighing options on national securities regulator
Four provinces have already signed up for federal regulation of securities
P.E.I. is in no rush to sign on to a proposal for a single national securities regulator, says Justice Minister Janice Sherry.
The province wants to continue to review how it would work.
Last week federal Finance Minister Joe Oliver announced that Saskatchewan and New Brunswick are joining British Columbia and Ontario in Ottawa's proposal. To secure their participation Ottawa promised Saskatchewan and New Brunswick some concessions.
There are still six provinces, including P.E.I., that have not agreed yet to the plan.
"We are at this time still just weighing our options, looking at the revised agreements in principal that the feds have on the table, and I don't see that there's an immediate rush," said Sherry.
"One of the big things is you know we want to make sure that the regulation of securities does remain strong both nationally and in our province."
Oliver hopes a new national securities regulator can be fully operational by fall 2015. He won't speculate what would happen if Ottawa does not get all the provinces and territories to buy into the plan before then.
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