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ARTICLE · 07 DECEMBER 2018

Alberta Securities Commission Introduces New Whistleblower Policy

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The Program creates a simple reporting process for whistleblowers, which under the Program can include employees, directors or contractors of a company.

CanadaEmployment and HR
Cameron F. Schepp
Cameron F. Schepp
Paul D. Barbeau
Paul D. Barbeau
Jason Haley
Jason Haley
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On November 19, 2018, the Alberta Securities Commission ("ASC") announced the creation of its new whistleblower program (the "Program") and the Office of the Whistleblower ("OWB") through ASC Policy 15-602 - Whistleblower Program (the "Policy") along with amendments to the Securities Act (Alberta) (the "Act").

The Program is designed to encourage employees (broadly defined) or "whistleblowers" to report potential breaches of Alberta securities laws and to provide such individuals enhanced protections in doing so.

Unlike the program introduced by the Ontario Securities Commission's program (see our previous bulletins  Carrying the Tune: OSC Whistleblower Program Coming Soon and Ontario's Whistleblower Regime: Civil Cause of Action for Reprisals Now Possible), the ASC does not offer financial compensation to whistleblowers. However, where whistleblowers are themselves involved in securities misconduct, the Policy provides that, in certain circumstances cases,

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