Mr. Speaker, the Canadian Securities Commission was mentioned in the speech from the throne. Its genesis was from the suggestion of the provinces. We were quite clear that it is a provincial jurisdiction but several provinces have been asking us about it. We have put forth an optional proposal to the provinces and they will be allowed to opt in or opt out. Anyone who has ever worked in the securities business in Canada realizes that the proliferation of agencies one has to go through is a dreadful thing. A national Canadian securities commission would be appropriate and would be of great benefit to Canadian business and the Canadian people.
In the House of Commons on March 4th, 1996. See this statement in context.