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The revolution that is taking place in world financial markets. The Report of The Ontario Task Force on Financial Institutions (the "Dupre Report") with warnings, and examples of how events have occurred in complete opposition to those warnings. A suggestion that "we need to lift our sights beyond what is happening within our own borders and look at the global financial marketplace." A brief outline of some of the major changes taking place internationally and suggestions of what they indicate for the Canadian capital market. The restructuring of the Canadian financial markets. Major changes suggested in the February, 1985 Report to the Government on Entry into and Ownership of Ontario Securities Industry with respect to allowable limits of foreign ownership of Ontario securities dealers and allowable limits of ownership by Canadian financial institutions. Two primary public policy concerns identified by the OSC. OSC recommendations as intentions to encourage the development of efficient and competitive markets, and the minimum required to ensure that the Canadian industry is properly positioned to be a world player. Measuring the "vitality factor." Substantial risks to the Toronto-based industry, and to Canadian issuers and investors, of not opening the Canadian industry to significant foreign and domestic investment. The entry of Canadian financial institutions into the securities industry. Creating a competitive financial sector. The challenge to position players in capital markets so that we can be as well served in the future as in the past.