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Message: BCSC and
This is very interesting, I havent read this whole link yet, but surely there are some answers and education for us in there. If you are doing nothing on this beautiful Sunday evening, grab a drink (coffee) and see if you can find anything in here. I will start it off with part of Brenda M. Leong,s message from the chair. Its things I read like this that TELLS me that our interests are PROTECTED.
Message from the Chair
Brenda m. leong
25th YeAR AnnIVeRSARY
I am pleased to present the Annual Report for the 25th
anniversary of the BC Securities Commission for the
year ended March 31, 2012. In March 1907, a private
member introduced a bill to incorporate the Vancouver
Stock Exchange. Thus began the long journey to create a
securities commission in this province.
The government created the BC Securities Commission on
February 1, 1987, when it decided to reorganize the Offi ce
of the Superintendent of Brokers to create an independent
securities commission, making the BCSC solely responsible
for the regulation of trading in securities and commodity
contracts.
pRopoSed nAtIonAl RegulAtoR
In December 2011, the Supreme Court of Canada concluded
that the federal government’s draft securities act to create
a national securities regulator was unconstitutional,
infringing on provincial jurisdiction. The federal
government is now working on a cooperative model, with
the aim of reaching agreements with willing provinces
and territories by the end of the year. Our government
supports the concept of a national regulator, provided it
respects constitutional jurisdiction, improves enforcement,
and responds to regional economies such as BC’s venture
capital markets.
While awaiting the decision of the Supreme Court of
Canada, we remained committed to our priorities and
delivered on our mandate to protect investors and foster
fair and effi cient markets. We worked diligently to meet
our Service Plan commitments. We met or exceeded all of
our performance measurement targets, except for three
(measurements 1.2, 1.3 and 3.3). This year we focused
on three risks: illegal distributions and securities fraud;
non-compliance in the private placement market; and the
challenges of investigating market misconduct by traders in
offshore secrecy jurisdictions.
IMO
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