ontario securities commission
Howard Davies, the chairman of the U.K. Financial Services Authority, once said in a speech, Unless you have a clear idea of why you regulate, then you run serious risks of being deflected into unprofitable and unjustifiable areas. Unfortunately, the OSC is ignoring this philosophy, and is taking a regulation everywhere approach to Canadian capital markets.
One has to wonder how serious the Crawford Committee is about this recommendation. Its report contains no cost-benefit analysis on the numerous recommendations in their report which, if implemented, would lead to a new explosion in regulatory and compliance costs.