On September 19, 2013, the Ministers of Finance of British Columbia, Ontario and Canada agreed to establish a cooperative capital markets regulatory system and invite all provinces and territories to participate in the proposed system.

The cooperative securities regulator will feature a single regulator administering a single set of regulations and be operationally independent and self-funded through a single set of fees. It will be directed by an expert board of independent directors with broad capital markets-related expertise. A Council of Ministers of all participating jurisdictions will oversee the cooperative system.

The regulator will have an executive head office in Toronto and a nationally integrated executive management team to serve market participants in all participating jurisdictions.