In my latest opinion piece for Investment Executive, I call on regulators to review and renovate the existing securities rulebook, with a focus on identifying rules that are obsolete and out-dated, inefficient and duplicative, and have unintended negative consequences on capital formation. Such a review has the potential to yield major efficiency gains in the areas of securities trading and financing, enable more cost-effective investor protection, lower transaction costs and stimulate investor participation in markets, and boost overall liquidity and capital formation in Canada.

I also outline some specific rules regulator should tackle to address the alarming fall-off in small business financings and initial public offerings, and stem the loss of many small retail and institutional boutique dealers.

You can read more ici.