Finance launches consultation on modernizing federal securities transfer rules
Discussion paper now online
Thursday, June 21, 2007
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The Department of Finance launched an online consultation regarding the modernization of securities transfer rules in federal statutes today.
Securities transfer laws govern the purchase, sale and holding of investment securities. “Modernizing these laws will provide investors with greater legal protection by clarifying the rights and obligations of the parties involved in a transaction,” Finance said in a release.
As part of this initiative, the depatment is releasing a discussion paper on the subject. The discussion paper fulfills a commitment made in the last budget. The government committed to reform federal statutes to ensure they support current market practices. A key objective is to modernize federal laws so they complement provincial efforts to implement uniform securities transfer laws.
The deadline for comments is September 14.
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