The Wise Persons’ Committee to Review the Structure of Securities Regulation in Canada has delivered its report to the new federal Finance minister, Ralph Goodale.

The report will be made public tomorrow. A news conference will he held at noon ET, at the offices of the law firm Farris, Vaughan, Wills & Murphy in Vancouver. Committee chair Michael Phelps will briefly discuss the WPC’s recommendations.

The report is expected to recommend the ideal regulatory framework for Canada. The WPC undertook extensive consultations with the industry and studied foreign regulatory regimes.

The WPC was convened by the previous finance minister, John Manley, earlier this year at the recommendation of Saskatchewan lawyer Harold Mackay. Mackay advised Manley after conducting a brief review of the regulatory landscape on behalf of Finance in 2002.

It was appointed to undertake an independent objective review of the current securities regulatory framework and identify an appropriate model for securities regulation in Canada.

The committee members include: Phelps; MacKay; Thomas Allen; Pierre Brunet; Wendy Dobson; Edwin Harris; and Michael Tims.

The webcast of the news conference is open to the public can be accessed through the Wise Persons’ Committee web site at http://www.wise-averties.ca/

Replays will be available in streaming audio shortly after the conclusion of the news conference.