Research Paper Number

35/2013

Document Type

Article

Publication Date

2013

Keywords

Canadian; capital; decision; markets; Securities Act; supreme court

Abstract

My reaction to the Supreme Court's decision is one of surprise and disappointment. The decision was extremely decontextualized, the court failed to appreciate the nature of a "market" and that it is comprised of buyers (investors) in addition to sellers (issuers). This commentary is divided into three parts. First, I critique the decision of the court from a capital markets perspective. Second, I put the decision in context by comparing it to other reference decisions before the Supreme Court over the last 22 years. Third, I discuss options moving forward for national regulation of the Canadian capital markets in light of the Supreme Court's decision.

Download

Request a copy that is accessible using assistive technology (link opens in a new window)

Share

COinS