Well, I didn't take a poll but that's how we react to such things. Link to interesting article follows this quasi-soliloquy.
When I first entered the financial world I had to take a the Canadian Securities Course to be licensed as securities broker - A must for anyone who had any aspirations to get into the investment side of things. Furthermore, as part of our "continuing education" I had to take other exams to keep myself "sharp." Interestingly, each time I was left perplexed by how we operate and govern ourselves in this country.
Let me explain as well as blunt. We're just not mature enough when it comes to regulating our stock markets. Our approach to our markets is the same thing we apply to a multitude of things in this country from Arctic sovereignty to global security issues to public health: a little naive and parochial with a dash of paprika.
To be specific, the one thing that struck me in my formative years was how fragmented and poorly regulated the Canadian securities landscape really was. Every time some person came in from Toronto to explain and train about conducts, practices and laws the part about how the government oversees all this left many of us scratching our heads. Worse, it's a joke how mean spirited the Provinces can be with one another. They literally have "trade" and "securities" wars with one another. Guess who pays the price? Us. As in citizens, consumers and investors.
It also bordered on the bizarre. Clients would call in talking about American corruption (of course without ever keeping things in perspective. When explained that in relation to the gargantuan size of the U.S. markets the indiscretions were rather minor and the offenders were prosecuted to the full extent of the laws in that country) but were always oblivious to the corruption in their own backyard. It's as if Canadians believe they are incapable of high end political and corporate corruption.
Lord knows, we are capable of it. And we're good at it too. The Liberal Party has mastered the art of achieving and maintaining power off the backs of apathetic Canadians. They wrote a new chapter on Machiavellian politics. "How to Justify the Means Politely. Canadian Style."
It is absolutely ridiculous to have no national standards in this country. Nor did it take a genius to figure all this out.
www.bloomberg.com/apps/news?pid=20601109&sid=aWEkKs084ISM&refer=home
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