Regulation of Canadian Capital Markets in the 1990s: The United States in the Driver's Seat

44 Pages Posted: 3 Oct 2009 Last revised: 7 Dec 2009

Date Written: October 1, 2009

Abstract

This Article looks at the regulatory techniques that were adopted in a small but developed market, Canada, in response to the increasing integration of the North American economy and internationalization of capital markets. One of the most comprehensive experiments was the Multijurisdictional Disclosure System (MJDS) implemented in Canada and the United States in 1991. Based on principles of reciprocal recognition, the MJDS in fact created greater pressures for harmonization of the two regulatory regimes and, on the Canadian side, prompted regulatory innovations which attempted to keep Canadian markets in the global game.

Keywords: capital markets, securities regulation, mutual recognition, harmonization, internationalization, multijurisdictional disclosure system

JEL Classification: F02, F3, G15, G28, G38, K00, K22

Suggested Citation

Jordan, Cally E., Regulation of Canadian Capital Markets in the 1990s: The United States in the Driver's Seat (October 1, 2009). U of Melbourne Legal Studies Research Paper No. 439. Available at SSRN: https://ssrn.com/abstract=1481444 or http://dx.doi.org/10.2139/ssrn.1481444

Cally E. Jordan (Contact Author)

Melbourne Law School ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia

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