FOR IMMEDIATE RELEASE
PDAC welcomes progress made toward transition to the Cooperative Capital Markets Regulatory System
Toronto, August 27, 2015 – On August 25 the ministers responsible for capital markets regulation in the jurisdictions participating in the Capital Markets Regulatory Authority released a revised consultation draft of the Capital Markets Act and initial regulations for consultation. This marks a key milestone in the transition to a Cooperative Capital Markets Regulatory System.
“The PDAC is a strong supporter of efforts to reform Canada’s capital markets that will address the current fragmentation of regulatory regimes across Canada,” says PDAC President Rod Thomas. “The establishment of the Cooperative Capital Markets Regulatory Authority provides an opportunity to implement important reforms that will facilitate cost-effective capital-raising.”
Originally announced in August 2014, participants in the Cooperative Capital Markets Regulatory System now include the governments of British Columbia, Ontario, Saskatchewan, New Brunswick, Prince Edward Island, Yukon and Canada. PDAC strongly encourages all jurisdictions to participate and for the participating jurisdictions to design regulations that facilitate capital-raising from a broader base of investors, reduce regulatory and compliance costs, and support effective enforcement.
“Given the fundamental importance of effective capital markets to the success and sustainability of Canada’s mineral exploration and development industry, the PDAC will continue to champion the adoption of a venture-friendly regulatory system,” adds Thomas. “We look forward to commenting on these draft regulations and to working with the participating jurisdictions as the Cooperative System is fully implemented.”
The draft Capital Markets Act, draft regulations and materials are available for comment until December 23, 2015 on the Cooperative System website. To read PDAC’s detailed comments on the initial consultation draft of the Provincial Capital Markets Act and Capital Market Stability Act, please click here.
The Prospectors & Developers Association of Canada (PDAC) is the national voice of Canada’s mineral exploration and development industry. With a membership of over 8,000, the PDAC’s mission is to promote a responsible, vibrant and sustainable Canadian mineral exploration and development sector. The PDAC encourages leading practices in technical, environmental, safety and social performance in Canada and internationally. PDAC is known worldwide for its annual PDAC Convention, regarded as the premier event for mineral industry professionals. The PDAC Convention has attracted over 25,000 people from 125 countries in recent years and will next be held March 6-9, 2016, in Toronto. Please visit www.pdac.ca.
Senior Manager of Communications
Prospectors & Developers Association of Canada (PDAC)
416 362 1969 x234