Ms. Stymiest delivered her remarks today in a speech to the Montreal Board of Trade. She said that now is the time to look at a new and effective system of securities regulation in Canada. She argued that because of delays associated with the current structure, the Canada's capital markets are restricted in competing with the same efficiency as other world markets.
In addition, Ms. Stymiest said, "the principal recommendation of the Martineau Report that calls on reducing Quebec's eight financial regulatory organizations is a positive first step in regulatory reform."
In her speech, Ms. Stymiest also celebrated Montreal's history in the capital markets. "The first shares traded in this country changed hands in 1832 among members of the Board of Brokers in the old Exchange Coffee House just west of here." She added that, "the TSE also has roots in Montreal because we became the heir to all the market traditions of this town when Canada's exchanges were consolidated in the late 1990s."
And the TSE is now expanding its presence in Montreal. It already operates a Corporate Finance Office and will soon be opening a new, expanded joint TSE-CDNX office at 1000 Sherbrooke West.
Copies of Ms. Stymiest's remarks are available on tse.com.
