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Federal government pushes for national securities rules; Alberta fears oilpatch interests would suffer

The federal government will forge ahead with its push for a national securities regulator, arguing global economic turmoil underscores a pressing need for unified financial market rules and a common watchdog. Talk of a single Canadian securities regulator to replace the country’s patchwork system and reduce red tape has been ongoing for some time. Ontario has backed the initiative, but provinces such as Alberta, Quebec and Manitoba have been strongly opposed. Alberta Premier Ed Stelmach reiterated his staunch opposition to eliminating the province’s securities regulator in favour of a national system.
http://www.canada.com/edmontonjournal/news/story.html?id=e6ca4951-cb0e-4df4-ad1a-c1cef5c6a586

Edmonton Journal

Latest News 2008