Joe Ceci, President of Treasury Board and Minister of Finance, issued the following statement on the Supreme Court of Canada’s decision regarding the federal government’s constitutional authority to create a national securities regulator:
“The Government of Alberta acknowledges the court’s decision to uphold the proposed pan-Canadian regulatory model as contemplated by the Memorandum of Agreement, signed in 2014, along with complementary federal legislation.
“The Alberta capital market is the second largest capital market in Canada and unique from other markets in the country. Having access to a local regulator that understands the complexities of the market is key to ensuring the protection of investors and facilitation of a vibrant capital market in Alberta.
“We affirm our view of the importance of the Alberta Securities Commission and the work it does on behalf of our province and its capital market. The commission will continue to work harmoniously with all securities regulatory authorities in Canada on our behalf. Alberta will continue to work collaboratively with all provinces and territories regardless of their participation in the cooperative system.”