The Supreme Court of Canada dealt a significant blow to the federal government's attempt to create a national stock market regulator. But Canadian Bankers Association head Terry Campbell urged federal Finance Minister Jim Flaherty to go back to the drawing board, saying the court left open the potential to create a single securities regulator.( The government had argued that financial markets have become such a critical aspect of the interwoven global economy that Canada needed a single voice representing its interests on the world stage. But the court said the government failed to make its case.)

Date: 2011-12-22
Placeline: OTTAWA, Ontario.
Source: The Canadian Press
Length: 14 seconds

Transcript Prediction: << for the first time the court has recognized that there's Federal jurisdiction over security for the first time the court has said there can be a national Securities regulator now there's more work to be done there's more negotiations to be done but this is historic >>

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