Curbs for Canadian securitised products
Monday 4 April 2011 - by Will Henley
Securitised products in Canada face closer oversight including added disclosure requirements under a new framework proposed by the country's regulators.
Bill Rice, CSA chair and chief executive of the Alberta Securities Commission, said: "The proposed rules build on the CSA's efforts to provide increased transparency to investors while taking into account the particular features of the Canadian securitisation markets.
"We will work toward striking an appropriate balance between strong investor protection and an efficient, open marketplace."
The proposals are out to consultation until 1 July.
In a report on the Investment Industry Regulatory Organization of Canada, which regulates investment dealers and trading activity in debt and equity marketplaces, the CSA said the body was in "substantial compliance" with the terms of its establishment.
The review, which was conducted by regulators including the Ontario Securities Commission, Alberta Securities Commission and Autorité des marchés financiers, however indicated there remains "some areas for improvement".
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