Comments on Public Consultation Paper

July 10, 2008

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Comments on Public Consultation Paper

Letter Summary:

We believe that a single or unified regulatory regime would require the consent of each jurisdiction at the same time. Further, after the enabling legislation is enacted in each jurisdiction, the continued maintenance of this legislation would have to be deferred to a single body comprised of all stakeholders including registrants, issuers and investors.

Overview of the Council’s Comments:

We believe that the answer to this question is that any Canadian securities regulatory regime must protect investors from unscrupulous individuals and marketing practices, defend the integrity of the capital markets, and improve the ability of Canadian companies to raise funds in their home country. Lastly, this regime should not form an undue barrier to entry for investors, participants or companies.