For Immediate Release
May 29, 2008

Canadian Regulators Active Participants on IOSCO Task Forces

Toronto – The International Organization of Securities Commissions (IOSCO) held its 33rd annual conference in Paris between May 26 and May 29, 2008.

At the conference, the Technical Committee (TC) finalized two important reports prepared by two TC task forces on which the Quebec Autorité des marches financiers and the Ontario Securities Commission actively participated. The first report relates to the credit market crisis and focuses on the market for structured finance products, and the specific areas where failings were identified. The report recommends future work by IOSCO and its standing committees. The second report concerns credit rating agencies (CRAs) and implements changes to the IOSCO Code of Conduct Fundamentals for CRAs.

The Canadian Securities Administrators (CSA) intend to consider these reports in developing any recommendations for changes to the Canadian securities regulatory regime that may be appropriate as a result of the credit crisis.

British Columbia, Alberta, Ontario and Quebec participated in the IOSCO annual conference.

The reports can be found on the IOSCO website at

The Canadian Securities Administrators is the council of the securities regulators of Canada’s provinces and territories, which coordinates and harmonizes regulation for the Canadian capital markets.

For more information:

Laurie Gillett
Ontario Securities Commission
Barbara Shourounis
Saskatchewan Financial Services Commission
Frédéric Alberro
Autorité des marchés financiers
Andrew Poon
British Columbia Securities Commission
Nicholas A. Pittas
Nova Scotia Securities Commission
Mark Dickey
Alberta Securities Commission
Ainsley Cunningham
Manitoba Securities Commission
Heather Campbell
New Brunswick Securities Commission
Marc Gallant
Department of Attorney General
Prince Edward Island
Doug Connolly
Financial Services Regulation Division Newfoundland and Labrador
Louis Arki
Nunavut Securities Registry
Donald MacDougall
Securities Registry
Northwest Territories
Fred Pretorius
Yukon Securities Registry