A newly proposed common Canadian securities regulator would have to be altered significantly for Alberta to sign on, the oil-rich province’s finance minister said on Tuesday.
Last week, the Canadian federal government and two provinces – Ontario and British Columbia – unveiled plans to set up a common securities regulator as a first step to their goal of replacing the current patchwork of provincial agencies.
Ottawa has tried for decades to persuade Canada’s 10, mostly reluctant, provinces and three territories to create a national regulator similar to the U.S. Securities and Exchange Commission.
Alastair Sharp & Leah Schnurr – Reuters – September 24, 2013
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