Supreme Court of Canada ruling on securities regulation: Québec reiterates that it will not be participating

QUÉBEC, Nov. 9, 2018 /CNW Telbec/ - Québec does not intend to join the federal regime, despite the Supreme Court judgment authorizing Canada to implement pan-Canadian securities regulation.

"We acknowledge the Supreme Court of Canada ruling, but intend to retain our autonomy and keep our expertise in Québec. The finance sector is highly strategic and we will remain autonomous," Québec Minister of Finance Eric Girard said.

"Québec will continue to be responsible for regulating securities on the Québec market. The Autorité des marchés financiers will continue to be the integrated regulator responsible for overseeing all stakeholders in the Québec financial sector," he added.

"We reaffirm our resolve with regard to defending both the interests of Quebecers and Québec's jurisdiction from any eventual encroachment. We will remain vigilant about meeting our responsibilities. We also call for guaranties from the federal government when the federal regulator is implemented. The Court did state that the federal law creating the pan-Canadian commission must not encroach on provincial jurisdiction," concluded the Minister of Finance.

SOURCE Cabinet du ministre des Finances

Fanny Beaudry-Campeau, Press Relations Officer, Officer of the Minister of Finance, 418 576-2786