Canada securities regulator court ruling Thursday

Mon Dec 19, 2011 1:18pm EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

OTTAWA (Reuters) - The Supreme Court of Canada will rule on Thursday on the legitimacy of the national securities regulator that the federal government wants to put in place.

Faced with the opposition of Alberta and Quebec, Ottawa decided to ask the Supreme Court whether it has the constitutional power to act on securities issues. If the ruling is favorable, it hopes to bring in a single national regulator in 2012.

The ruling will be handed down at 9:45 a.m. EST.

(Reporting by Randall Palmer; editing by Rob Wilson)