Securities Regulation & the CBC

Posted by: SnugTheJoiner on November 24, 2008 12:50PM

Most of you who frequent the SPQ board also probably read the NOT board. Some of you will have seen on the NOT board QQ_Girl's links to the CBC program on Sunday night with regards to securities regulation in Canada.

If not, here is a link to her post. If you're a Canadian investor watch this CBC program. Just a suggestion. The contents of this program are central to the recent NOT proxy fight, and in part, IMHO, responsible for a 3 cent share price for SPQ.

http://agoracom.com/ir/Noront/messag...

I'm not one for silly rants, for which I apologize. So I often contact instead my politicians suggesting things and telling them how I feel. See my email below. But first, the reason I sent it, is the above mentioned CBC program.

David Wilson who heads the Ontario Securities Commission is a blatant and pathetic Bay Street sychopant. A gutless wonder who pulls down 700K per annum all the while allowing blatant fraud to occur at Bay & King. Watch him on the CBC. His blinking twitches while being interviewed are a wonder to behold.

So here's my email to Flaherty and Harper, who I voted for, by the way. This is not my first email, and it won't be my last. But I detest those, for example, who just rant at the Moka House on Cook Street Village in Victoria, BC, (aka the Left Coast). Sorry for the rant - ironic, isn't it!

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Dear Mr. Flaherty:

I would like to ask you to move with all haste to get legislation in place to create a national securities regulatory commission for Canada. As a citizen coming close to retirement, and having a paper loss of a significant size in the stock market, I believe that the Ontario Securities Commission (and the other Canadian securities commissions) are complicit in fraudulent actions that have hurt not only individual citizens but also the whole country.

Please impress upon our Prime Minister the continuing need to put legislation in place. I believe that your government has the right approach to this legislation i.e., the "voluntary" membership of each province and territory.

Perhaps this legislation could be announced with the larger economic package being considered in these most difficult times. It is imperative that it be done quickly in order to maintain the confidence of all Canadian citizens, taxpayers, and investors.

Regards,
Glenn Lindsey
Victoria, BC

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You're either part of the solution, or part of the problem. In the case of securities regulation in Canada, and if you've got a large paper loss because of our spineless regulators, and you just beat your breast on the Agoracom boards, then you'll reap what you sow.

IMHO

Snug