Ottawa panel to re-examine prospect of national securities regulator

The federal government is making another attempt to kickstart the creation of a national securities regulator with the appointment Thursday of an expert panel.

The government appointed a seven-member panel, headed by former cabinet mininster Tom Hockin, to examine how a national regulator could be created to replace the provincial regulators currently in place.

The expert panel also includes:

• Ian Bruce, chief executive of Peters & Co. Ltd.
• Denis Desautels, former auditor general of Canada.
• Hal Kvisle, president of TransCanada Corp.
• Dawn Russell, a law professor at Dalhousie University.
• Terry Salman of Salman Partners Inc.
• Heather Zordel, a partner at Cassels Brock & Blackwell.

"I am asking the panel to develop a model common securities act to create a Canadian advantage in global capital markets," said Finance Minister Jim Flaherty in a statement.

The panel is due to report back to the federal, provincial and territorial governments by the end of this year.

A national securities regulator has been discussed for years, but jurisdictional squabbling has limited progress. Ontario has resisted efforts by other provinces to bring in a "passport" system.