Today, the Financial Post, in its FP Comment page, is running a piece I wrote on how the recent FSB/IOSCO decisions will galvanize broader support for the new cooperative securities regulator.

In recent months, the multinational regulators—the FSB and the IOSCO—have concluded that systemic risks related to large asset managers flow from their potential system-wide impact on capital markets, not from the particular institution per se. It is likely that Canadian authorities will reach a similar conclusion. This would likely mean removal of large Canadian non-bank non-insurer financial institutions from inclusion in the Capital Market Stability Act (CMSA)—i.e. the … Continue reading →