News Release

Calgary - The Canadian Securities Administrators published today a concept proposal for uniform securities laws in Canada. The proposal envisions a "platform" Uniform Act that would set out fundamental rights, powers and obligations, and Uniform Rules that would set out detailed requirements.

"We’re harmonizing the Canadian system of securities regulation within a flexible framework that is able to adapt quickly to evolving market requirements," said Stephen Sibold, Chair of the Alberta Securities Commission and Chair of the USL Steering Committee.

The proposed framework also incorporates simplified and streamlined regulation in those areas that could be accommodated within the project timeframe. The proposal would streamline inter-jurisdictional registration of firms and individuals, and allow securities regulators to delegate decision-making across all regulatory functions to another securities regulator.

The CSA Blueprint for a Uniform Securities Act for Canada is available at the commission websites listed below. Comments on the proposal are requested by April 30, 2003.

The CSA is an umbrella organization for the 13 securities regulators of Canada's provinces and

territories to coordinate and harmonize regulation of the Canadian capital markets.

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