CALGARY, Alberta, March 29 (Reuters) - Alberta's
left-leaning NDP government said on Tuesday the crude-producing
Canadian province will not join a national securities regulator,
sticking with the stance taken by the previous Conservative
government.
Alberta Finance Minister Joe Ceci said the province's
capital markets focus around the energy sector, while those of
provinces such as Ontario and Manitoba are defined by different
industries, such as financial services and insurance.
"Our government firmly believes that these unique financial
ecosystems are best overseen by local regulators," Ceci told a
news conference.
The decision comes despite a statement by Canadian Finance
Minister Bill Morneau in January that the federal government
would follow through with efforts to set up a national security
regulator to replace a patchwork of provincial bodies.
So far Ontario, British Columbia, three smaller provinces
and the territory of Yukon have agreed to link up with the
federal government to set up a common regulator.