For Immediate Release
October 4, 2006

CSA Responds to Report of Task Force to Modernize Securities Legislation in Canada

Montreal - In respect of the release of the Final Report of the Task Force to Modernize Securities Legislation in Canada, the Canadian Securities Administrators (CSA) are issuing the following statement from CSA Chair, Jean St. Gelais:

“We welcome the Report of the Task Force and view it as a constructive document that will add to the debate on securities regulation in Canada. We will review the Report carefully and consider its contents in light of this debate.”

The Task Force, which was chaired by securities law expert Tom Allen Q.C., was mandated by the Investment Dealers Association of Canada to make recommendations to modernize securities regulation in Canada and to enhance or maintain competitiveness in Canada’s capital markets. The Report is available at www.tfmsl.ca.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

For more information:

Laurie Gillett
Ontario Securities Commission
416-595-8913

Andrew Poon
British Columbia Securities Commission
604-899-6880

Tamera Van Brunt
Alberta Securities Commission
403-297-2664

Ainsley Cunningham
Manitoba Securities Commission
204-945-4733

Frédéric Alberro
Autorité des marchés financiers
514-940-2176