The NDP’s landmark victory in the Alberta election may provide an opportunity for a shift in attitude toward joining a national cooperative securities regulator – yielding a significant consolation prize for the federal Conservative government.
While Finance Minister Joe Oliver pushes forward toward the elusive dream of unveiling a national securities regulator by the fall of 2016, some industry observers believe Alberta under an NDP government may no longer be the “uncrackable vault” that holds the key to creating a federal-provincial cooperative securities regulator.
Of course, that depends on whether premier-elect Rachel Notley is willing to play nice and treat the prospect of the province joining a national cooperative securities regulator with less hostility than her predecessors. Ottawa plans to replace the current 13 provincial and territorial watchdogs with a common regulator – the Co-operative Capital Markets Regulator (CCMR) – to oversee the country’s fragmented securities regime, complete with the legislation.
Theresa Tedesco – FINANCIAL POST – May 12, 2015.
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