Alberta will fight Ottawa in court if it has to over the federal government’s new plan to form a national securities regulator, the province’s finance minister vowed yesterday.

“Alberta remains steadfastly opposed to a single federal regulator. Securities regulation is a provincial responsibility, and this would be an intrusion into an area of provincial jurisdiction,” said Finance Minister Iris Evans in a statement.

“We will continue to oppose, through all available avenues, including legal action if necessary, any move toward establishing a single national regulator.”

An expert panel urged Ottawa yesterday to form a national regulator to police the trading of securities in the country, even if provinces that hold jurisdictions won’t come on board.
Evans added that the proposed changes “could further unsettle capital markets.”