Spring 2017 - Bill 13: Securities Amendment Act, 2017

We already have strong organizations in Alberta like the Alberta Securities Commission. The ASC is mandated to protect investors and foster a fair and efficient Alberta capital market, and has statutory powers to compel attendance and the production of evidence during investigation and adjudication of infractions.

However, self-regulatory organizations, such as the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association, do not have this authority.

This bill will give those bodies the same statutory powers, and enable them to more effectively monitor and regulate their members.

Individual investors and large investors need to know that the investment industry is being regulated properly.
 
Financial markets are getting more and more complicated every day, and more and more people are relying on financial advisors to help guide their decisions. 

As government we need to encourage investment, because it is critical to the development of our economy.
 
But we also must do everything we can to protect investors against the very few people in the system who would take advantage of them. 

 

Key Points

Albertans deserve to feel comfortable and confident when they entrust their money to investment dealers, advisors, and their representatives.

Organizations that regulate the investment industry need the capability to regulate effectively. The amendments proposed in this bill will:

  • Provide regulatory organizations the same enforcement authorities as the Alberta Securities Commission
  • Give regulatory organizations the ability to compel attendance and production of evidence so they are better able to do their jobs and protect Alberta investors.
  • Protect the people who investigate these cases from liability for carrying out their duties in good faith.

Press releases

Government to strengthen investor protection

Links & Resources

Alberta Securities Commission

Investment Industry Regulatory Organization of Canada

Mutual Fund Dealers Assocation of Canada