The Wise Persons' Committee was established by the Minister of Finance of Canada to provide an independent assessment of what securities regulatory structure will best serve Canada's interests. The Committee's terms of reference are to review and assess strengths and weaknesses of the current system and to recommend an appropriate regulatory structure, with a governance model and accountability framework. The recommended structure must meet objectives which include providing for sound investor protection and creating confidence that the highest regulatory standards are rigorously and equally enforced, while fostering efficient, dynamic and innovative capital markets for businesses of all sizes without an undue regulatory burden.

The Committee is receiving written submissions from market participants and other interested parties and is conducting consultations in various cities across Canada.