ASC Plans To Explore The Creation And Implementation Of A Whistleblower Program

A whistleblower program may be part of a comprehensive compliance and enforcement regime that the Alberta Securities Commission (ASC) recently proposed as part of its three-year Strategic Plan (the Plan).

The intention of the Plan, which sets out the ASC's priorities to 2020, is to better position the regulator "to react to Alberta's changing economic environment, while upholding a regulatory framework where capital markets can thrive and where there is strong investor protection against market misconduct". As part of this effort, the ASC will "explore the creation and implementation of a whistleblower program, designed to motivate individuals to report information about serious violations of Alberta securities law".