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In remarks to the National Centre for Business Law at UBC in Vancouver yesterday, Kevan Cowan, President, TSX Venture Exchange addressed the changing landscape of the issue of free trade in securities.
Mr. Cowan described the current global support for free trade in securities, highlighting the recent commitments by G-7 finance ministers and central bank governors to explore the issue further. He added that he was, “greatly encouraged by growing indications that politicians and regulators are recognizing the importance of addressing this issue."
Mr. Cowan argued the technology is available to offer a free and instantaneous flow of securities across borders, and it is outdated regulation and policy that is hindering the process. Mr. Cowan also reminded his audience that free trade is not a new concept, especially not in North America, "It only stands to follow that Canadians and Americans should not be impeded from investing freely in companies whose products trade freely across the border."
TSX Group executives, including Mr. Cowan and TSX Group CEO Richard Nesbitt, have been outspoken advocates of free trade in securities for some time, according to Kevan Cowan, "We intend to work collaboratively with all interested parties -- governments, investor groups, and indeed, even our competitors, to achieve these improvements to the investment climate on both sides of the border.
Remarks by Kevan Cowan To National Centre for Business Law at UBC Vancouver, B.C. October 18, 2007
