Subseries 4 - Securities Regulation

0.2 m of textual records

In January 1964, Jack Kimber, the chair of the Ontario Securities Commission and the head of a group examining securities regulation in Ontario, invited me to work with an enlarged committee that was then being set up (files 2 and 7). I was one of three part-time staff persons, the others being Purdy Crawford and Howard Beck. I drafted a number of background memos for the committee (file 4), attended their meetings, wrote the initial drafts of chapters of their report (file 5), and went to England with the committee for various meetings and where the report was thrashed out and more or less finalised (file 3). The report led to legislation in 1966 (file 8).

When I came to the University of Toronto from Osgoode in 1965 I conducted a seminar on securities regulation for several years (file 17).

In 1967, I was invited to be a member of a federal task force on the Canada Corporations Act, sponsored by the department of the Registrar General, whose minister was John Turner (file 9). The task force, under the direction of Bob Dickerson, held a number of meetings that summer (file 10). My task was to prepare material on securities regulation, which was to have some priority in the proposed legislation. My drafts naturally borrowed heavily from the Ontario legislation (files 12-14). Doug Sherbaniuk and I also collected statistics on various subjects (file 11). The work of the task force led to federal changes in the Canada Corporations Act (file 15).

In the late 1980s, I was involved in work on sanctions and rewards in the legal system for the Canadian Institute for Advanced Research and thought that it would be instructive to analyse the issues by working again in the field of securities regulation. It was because of this interest that I took an appointment to the Ontario Securities Commission in 1989 and worked with the Commission for three years, attending their weekly meetings and taking part in several hearings. Because I could not, as an academic, participate fully in their then lengthy hearings I resigned from the Commission (files 18-21).

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