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Company: Canadian Securities Transition Office

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One-year extension means CSTO will close in July 2013

In light of the Supreme Court’s recent decision that proposed federal legislation is unconstitutional, the big question is: Where do we go from here?

CSTO continuing work to build new regulator

CSTO intends to adapt existing harmonized provincial rules

Formal agreements with provinces not needed at this stage, CSTO says

Expenses were $1.1 million below budget

CSTO transition plan does not alter Quebec’s opposition

CSTO sets out timelines and details for July 2012 launch of single securities regulator

Proposed legislation contemplates a mix of new and existing functions

Legal challenges expected to be resolved within a year