downloading the PDF - Robson Hall Faculty of Law
downloading the PDF - Robson Hall Faculty of Law
downloading the PDF - Robson Hall Faculty of Law
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Did <strong>the</strong> Supreme Court <strong>of</strong> Canada<br />
Get it Right in <strong>the</strong> Securities Reference?<br />
Recently, 1 John Pozios sat down with Pr<strong>of</strong>essor Darcy MacPherson to discuss <strong>the</strong><br />
December 2011 decision <strong>of</strong> <strong>the</strong> Supreme Court <strong>of</strong> Canada in Reference re: Securities<br />
Act (also known as <strong>the</strong> “Securities Reference”). The Court held, first, that <strong>the</strong> previous<br />
case law had placed securities regulation in <strong>the</strong> legislative jurisdiction <strong>of</strong> <strong>the</strong> provinces<br />
and, second, that <strong>the</strong> federal government can, through legislation, deal with systemic<br />
risks to prevent economic catastrophe. Never<strong>the</strong>less, <strong>the</strong> Court held that <strong>the</strong> proposed<br />
legislation, <strong>the</strong> federal Securities Act, goes far beyond <strong>the</strong> powers <strong>of</strong> <strong>the</strong> federal<br />
government and is <strong>the</strong>refore unconstitutional.<br />
1. John Pozios is Director <strong>of</strong> The Marcel A. Desautels Centre for Private Enterprise and <strong>the</strong> <strong>Law</strong>, and Director <strong>of</strong> <strong>the</strong> L. Kerry Vickar Small<br />
Business <strong>Law</strong> Clinic, both at <strong>Robson</strong> <strong>Hall</strong>, <strong>Faculty</strong> <strong>of</strong> <strong>Law</strong>, University <strong>of</strong> Manitoba. Pr<strong>of</strong>essor Darcy MacPherson is a Research Associate at The<br />
Marcel A. Desautels Centre for Private Enterprise and <strong>the</strong> <strong>Law</strong>, and <strong>the</strong> Co-Editor-in-Chief <strong>of</strong> <strong>the</strong> Manitoba <strong>Law</strong> Journal.<br />
75 ROBSON HALL ALUMNI REPORT