Mr. Speaker, the current market crisis has shown the importance of prudent financial regulations.
While Canada's banking sector has been assessed as the world's strongest, our securities framework has been criticized by investors, businesses and international institutions as fragmented, cumbersome and ineffective. In the words of the IMF, “Canada is currently the only G-7 country without a common securities regulator, and Canada's investors deserve better”.
Will the Minister of Finance explain what our government is prepared to do to address this situation?