Tuesday, 9 August 2016

In Regards to SRO's (Self Regulating Organizations) such as the BCSC, the OSC, the TSX etc.

From the desk of our fellow Regulatory Reformer Alan Blanes, Alan is also the Canadian contact for Public Banking.


In Regards to SRO's (Self Regulating Organizations) such as the BCSC, the OSC, the TSX etc.

The practice of a self-regulating investment governance system demonstrates an open door to biased treatment, that tends to reinforce a closed shop and bad faith governance model.

It is time to go back to the Royal Proclamation of 1763 in its requirements that contracts be public and requiring mutual consent. This is the way to have contracts that are worth engaging in. The SRO poison adopted by regulators that put confidentiality first - are not honouring the Royal Proclamation. Just the opposite.

The Doctrine of Discovery that facilitated abuse and undermining of the Original Societies of the New World enabled corporate interests to think that they are dealing with a blank slate - where the only thing that matters is their own financial position [viz. short term profit maximization].

An item of evidence on the delusion that underlays the contempt for open public contracts that ought to provide equal benefit to all sides, can be seen in the willful blindness of the Minister of Aboriginal Affairs and Northern Development, Bernard Valcourt on the occasion of the 250th anniversary of the Royal Proclamation [Oct 7, 2013], where he stated at a symposium that was held by the Land Claims Agreements Coalition on that date: "Well, it is important to note that here in Canada, there is no place for the Doctrine of Discovery. It plays no part at all in our relationship with Aboriginal peoples in Canada."

Valcourt is not paying any attention to hidden conditions in contracts and other attempts to cheat a party to an agreement. When ever an example of secretive, unaccountable and arbitrary acts by regulators of investment creates an undermining of the right to economic self determination of any of the Peoples and individuals within Canadian territory, we have the legacy of the blank slate lawlessness of the Doctrine of Discovery.

I would invite all companies in the Americas that see and have experienced the predatory intent of oligarch-centric investment regulation, to join in gathering up all these examples, and seeking a relationship with Indigenous Government to take the evidence for all forms of predatory lawlessness involving investment within the lands of Turtle Island - and other areas where confidentiality is being used to impose senseless abuse on individuals and companies - and with these gathered-up, documented examples, that these be taken to Geneva to the Council of Jurists. A grievance needs to be argued that the right to economic self determination is being breached by the disregard of the requirements for honourable, open - not confidential - contracts. There is evidence that the Economic and Social Council would find in favour of those whose interests have been undermined by bad faith governance.

From the desk of Alan Blanes
Esteemed Alumni of the University of the Fraser Valley

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