The Financial Post reports in its Wednesday edition that Canadian securities regulators are appealing to the U.S. ambassador to Canada to intercede in legislation they say would create duplication, confusion and expense for insiders of Canadian companies that list their shares in the United States. The Post's Barbara Shecter writes that in a letter to U.S. Ambassador David Cohen, Canadian Securities Administrators chairman Stan Magidson said a proposed U.S. Senate bill will remove a key exemption for foreign issuers that saves directors, senior officers and significant shareholders at Canadian companies from having to disclose their trades in both countries. The letter was posted by Ontario Securities Commission chief executive officer Grant Vingoe. "As comparable insider reporting requirements already exist in Canada, removal of the exemption would trigger significant and unnecessary additional reporting costs in the U.S. for Canadian companies that are foreign private issuers, typically after listing in both Canada and the United States," Mr. Magidson said in the letter. He added that this change leading to reporting in both countries could lead to "considerable confusion" and inconsistent filings across jurisdictions.