Mr. Speaker, Canada is the only major industrialized country in the world without a common or national securities regulator. We cannot afford to wait endlessly, in order to better protect investors, to enhance enforcement, to strengthen our response to financial instability, to reduce unnecessary costs, to attract new international investments.
The studies on jobs show that the gain would be about $10 billion a year in economic output and 65,000 jobs gained with a Canadian securities regulator.