Statement made on 29 January 2009 by Senator Céline Hervieux-Payette
Hon. Céline Hervieux-Payette:
My question is for the Leader of the Government in the Senate.
Given that securities fall exclusively under provincial jurisdiction, given that the provinces have established a passport system for issuing securities easily and quickly, a system that is held in high regard in the Western world, and given that on January 12, 2009, the Minister of Finance, Mr. Flaherty, released a report by an expert panel chaired by the Honourable Tom Hockin, a former Conservative minister, recommending the creation of a national securities commission, can the Leader of the Government in the Senate guarantee that the abolition of the provincial commissions will not undermine Quebec's expertise in the area of issuing securities in the manufacturing and natural resources sectors, that of Alberta in the hydrocarbon sector, British Columbia in the mining sector and Ontario in the financial sector?
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