Ontario Premier Dalton McGuinty today said that his government fully supports the creation of a single securities regulator and will work in cooperation with the other provincial governments to make it a reality.

“The time has come for a single securities regulator in Canada,” said McGuinty in a speech to the Calgary Chamber of Commerce

His speech highlighted the importance of provincial governments working together to create a higher quality of life for the citizens they serve.

“Strong economies always have strong capital markets. A system that fragments our capital markets undermines our potential for growth,” said McGuinty.

Canada currently has 13 different securities regulators, and is the only major economy in the industrialized world that does not have a single securities regulator.

Industry stakeholders and the federal government’s Wise Persons’ Committee have strongly recommended federal, provincial and territorial governments work together to create a single securities regulator.

“The markets have spoken, and they have done so loudly: they want one regulator and one set of securities laws,” said McGuinty. “Our government is listening and we’re ready to work with others to help build a stronger economy for all.”