Reference re Securities Act

2011 SCC 66, 3 S.C.R. 837 (2011)

From our private database of 46,300+ case briefs, written and edited by humans—never with AI.

Reference re Securities Act

Canada Supreme Court
2011 SCC 66, 3 S.C.R. 837 (2011)

Facts

In 2010, the federal government of Canada enacted the Securities Act. The Securities Act aimed to create a unified national securities regulation system. The Securities Act allowed provinces to opt into the system, which included registration requirements for securities dealers, prospectus filing requirements, and disclosure requirements. The Securities Act also created a framework for the regulation of derivatives along with civil and criminal penalties for violations. Several state governments protested the enactment, and the federal government sought an advisory opinion on the constitutionality of the Securities Act. The Canadian government, the attorney general of Ontario, and supportive interveners argued the act was a constitutional exercise of the legislative power of the Parliament to regulate trade and commerce. The attorneys general of Alberta and Quebec countered that the Securities Act violated the legislative jurisdiction of the provinces over property and civil rights granted to the provinces under Section 92(13) of the Constitution Act, 1867. Other opponents of the Securities Act also argued the act violated the provincial jurisdiction over local or private matters granted under Section 92(16) of the Constitution Act, 1867.

Rule of Law

Issue

Holding and Reasoning (Per curiam)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 815,000 law students since 2011. Some law schools even subscribe directly to Quimbee for all their law students.

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.

Here's why 815,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 46,300 briefs, keyed to 988 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 815,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 46,300 briefs - keyed to 988 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership