On November 19, 2018, as part of the Alberta Securities
Commission's (the "ASC") new whistleblower program,
the Securities Amendment Act (the "Amendments")
came into force and amended the Securities
Act (Alberta) (the "Act"). The primary purpose
of the Amendments is to encourage employees to report
potential breaches of Alberta securities law to the ASC and to
protect them when doing so. The Amendments strengthen
confidentiality, prohibit reprisals and provide a civil right of
action for whistleblowers in the event a reprisal occurs.
The New Whistleblower Program
1. What is a whistleblower?
The Amendments define a "whistleblower" as an employee
who voluntarily discloses information to the ASC regarding an
alleged contravention of Alberta securities laws by his or her
employer (or by a fellow employee). An "employee"
includes full-time and part-time employees, directors and
independent contractors as well as full-time and part-time
employees and directors of
