Canada needs a single securities law, says Dodge

David Dodge, the outgoing governor of the Bank of Canada, said on Monday that a single securities law was needed for Canadian companies to compete.

Canada's provinces and territories are now responsible for regulating securities, meaning firms must get stock approved by each agency in order to sell it across the country.

Writing in the Globe and Mail newspaper, Dodge said that the current model was hindering Canadian business.

"Progress in developing uniform securities law and a universally a