Canadian energy firms anxious over trade reporting proposals

Alberta and four other provinces set to finalise joint rule by year-end

Canadian flag
Canada's proposed reporting rules are broadly similar to those imposed in the US under the Dodd-Frank Act

It has been a long time coming, but the regulatory tsunami that swept the world in the wake of the 2008 financial crisis is about to hit the companies that drill for crude oil and operate hydroelectric power plants in western Canada.

In the coming months, a group of five provinces, including oil-rich Alberta, are expected to implement final rules requiring the reporting of over-the-counter derivatives trades – and thereby fulfil one of the key financial reform objectives of the group of 20 count