RE:It is becoming very interestingWhy the hold-up? Blame it on ‘Quaint Country Exposure’. Blame it on Canada. Our present quagmire, a genuinely capricious and frivolous artifice, owes directly to the quaint circumstance that when Canada promulgated its constitution along federalist lines, establishing more than one distinct jurisdiction of political authority (a country-wide federal government, ten provincial governments, and three territorial bureaucracies in the far north), ‘it’ failed to adequately institute a joint federal-provincial securities regulator; a ‘role’ so inadequately contemplated at the time that essential basic oversight responsibilities were never adequately divvyed up between the federal government and a coterie of other sundry ascendant authorities; the inevitable consequence being an underlying ambiguity that, at times, induces securities regulation to be buffeted and heedlessly ‘delayed’ by one or more trivial disruptive sovereign political consideration (echoing regional tensions and mistrust, petty bourgeois discordant parochial cultures, differing provincial rule books, discrete channels within jurisdictions, dysfunctional red tape, frivolous logistical kinks, and unnecessary administrative duplications); begetting an intrinsically fragmented inefficient regulatory framework where pointless bureaucratic quicksand can at times, such as now, bog down what are in reality rudimentary uncomplicated matters; case in point, many companies in the same boat currently await as a colonial-era system (initially outlined in the British North America Act, 1867) gets its act together; meantime, Alhambra’s supportive financing partner shrugs off such droll delay with a smile, patience, and good cheer.