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Alberta Continues to Oppose Proposed National Securities Regulator

Perhaps unsurprisingly, Alberta’s NDP government last week revealed that it will not deviate from the province’s long-standing opposition to the proposed national securities regulator.  Despite months of speculation as to a possible softening of Alberta’s stance given its recent change in government, Finance Minister Joe Ceci affirmed Alberta’s opposition to the cooperative effort, citing the uniqueness of the “size and scope” of Alberta’s energy sector as “an area of pride for Albertans” and deserving of a “unique regulator”.  The remarks by Minister Ceci are the latest display of what has been consistent opposition by Alberta, Quebec and Manitoba to the national regulator.  To date, Ontario, British Columbia, Saskatchewan, New Brunswick, Prince Edward Island and the Yukon have indicated their approval of the proposed cooperative regulator.