In 1998, the three major government funding councils put in place the Tri-Council Policy Statement (TCPS) to regulate all research involving humans in Canada conducted at institutions funded by the councils. This article examines the process of developing the TCPS, a historic and very important document in Canada's research ethics landscape, and the application of the democratic values of legitimacy, transparency, representation, accountability, and community engagement in that process. The authors argue that efforts were made to ensure basic democratic values in the process but that these attempts should have been taken farther. This examination is a timely exercise in light of the new draft now being prepared to replace the current version of the TCPS. The authors also consider this ongoing process of establishing a new edition and reflect on lessons to be learned.