View From the West: The Alberta Court of Appeal Holds the Proposed Canadian Securities Act to be Unconstitutional

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Canadian Securities Law News No.207, CCH Canadian Limited
April 2011

On May 26, 2010, the Government of Canada officially released a proposed Canadian Securities Act (Proposed Act), which seeks to establish a national securities regulator as a voluntary regime that provinces and territories would be able to opt into[1]. Concurrent with its release, the Government of Canada referred the Proposed Act to the Supreme Court of Canada for its opinion as to the legislative authority of the Parliament of Canada to pass the Proposed Act.

[1] The proposed Canadian Securities Act is available on the Department of Finance Canada website: