Recomendations regarding a NATIONAL SECURITIES REGULATOR

ACER-CART supports legislation to crackdown on white-collar crime, to establish a Canadian Securities Regulator and recommends that:

Canadian Securities Regulator

• parliament seek immediate confirmation that it has the constitutional authority to enact and implement a federal securities regularity regime,
• a Canadian securities regulator create an efficient and streamlined securities regulatory system that reinforces financial stability, strengthens enforcement, protects investors, is accountable to parliament and encourages world-wide investing in Canada;

Reforms to Criminal Code

• comprehensive reforms to the Criminal Code and restructuring of its overall justice and regulatory system, including Victim Impact Statements, be instituted in cooperation with the provinces and territories to meet the challenges of dealing with all aspects of white-collar crime,
• extensive mandatory white-collar crimes training for judges be instituted,
• sentencing should include mandatory jail sentences and restitution orders for victims;

Partnership

• provinces and territories be supported financially, on a shared basis, by the federal government to hire sufficient staff with credentials for surveillance, prevention and to bring the perpetrators to face the courts of law in a timely manner;

Investor’s Bill of Rights

• an investor’s Bill of Rights be developed in co-operation with the provincial and territorial governments,
• support services be made available for victims who have to deal with stress, anger, depression, loss and isolation,
• strategies be developed to educate the public about their financial options when they reach retirement age.

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