The plan drafted by Mr. Hyndman’s Canadian Securities Transition Office raises questions about the power structure for the proposed regulator, which on the face of it appears to defeat the purpose of having a single regulator by dispersing decision-making authority in different offices.Improved enforcement is supposed to be another goal of the national regulator, the dispersed decision-making isn't going to help that cause either.
They really seem to be big on these King Solomon "splitting the baby" decisions these days, at great cost to the nation. And sometimes national enterprises seem to be truly anathema to them. But here they need to pick an office and stick with it. That means sucking it up and picking Toronto.