The Alberta government has moved on its pledge to challenge the federal government's plans to create a single national securities regulator, announcing yesterday it has filed a constitutional challenge with the Alberta Court of Appeal. Alberta announced its intention in December to launch a court challenge of the proposal, arguing the plan is an intrusion into provincial jurisdiction over securities regulation. Alberta Finance Minister Ted Morton said in a release yesterday the province must defend Alberta's jurisdiction and rights in areas of provincial responsibility. The province said it has filed the specific reference questions with the Alberta court that it will use to test the constitutionality of the single regulator plan. Quebec has previously launched a similar challenge in the Quebec Court of Appeal.
Janet McFarland is the real estate reporter for The Globe and Mail’s Report on Business, with a focus on residential real estate trends. She joined Report on Business in 1995, and has specialized in reporting on corporate governance, executive compensation, pension policy, business law, securities regulation and enforcement of white-collar crime. More