Alberta aims to cut red tape in financial sector

In an effort to foster innovation in its financial sector, the Alberta government has announced a series of legislative changes designed to reduce red tape.

The provincial government tabled a bill that will amend seven pieces of financial sector legislation, including the province’s credit union and loan and trust legislation.

Among other things, the changes will provide ATB Financial with access to central bank liquidity, enable virtual annual meetings and easier information sharing, and allow for faster incorporation.

“These changes will make it easier for financial services job creators to do business in Alberta, and were built in consultation with financial sector experts,” said Travis Toews, Alberta’s finance minister and president of its Treasury Board.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.