John Chant (SFU) presents an insightful conceptual framework for financial policy in the millennium; Jeffrey MacIntosh (U of T) provides a comprehensive assessment of the pros and cons of a National Securities Commission; Maurice Levi (UBC) focuses on capital-market integration; Randall Morck (U of A) looks at international financial regulation; Harry Hassanwalia (Royal Bank) examines competition in Canadian financial markets; and Nick LePan (OSFI) and Charles Freedman (Bank of Canada) provide perspectives on regulation. Discussants for these papers are practitioners in the financial sector and Steve Poloz (Bank Credit Analysts Research Group) is the conference rapporteur.