The Government of Alberta has enacted Alberta Securities Commission (ASC)-proposed amendments to the Securities Act (Alberta) that are now in force, expanding the ASC’s tools to address emerging investor-protection risks. The changes focus on extending statutory civil liability protections to new forms of issuer disclosure and strengthening the ASC’s ability to respond to false or misleading investment information circulating online. The amendments enable the ASC to extend and tailor the existing statutory civil liability safe harbour regime for issuers to cover climate-related disclosure, so defences available in certain circumstances, such as where a reasonable investigation was conducted, can be applied in this area. Separately, the changes provide additional authority to address problematic promotional activity and the online spread of false or misleading investment information, including through use of the ASC’s halt trade power in appropriate circumstances. All amendments were included in Bill 12, the Financial Statutes Amendment Act, 2025 (No.2), which received royal assent on December 11, 2025.
Alberta Securities Commission 2025-12-18
Alberta Securities Commission gains power to extend climate disclosure civil liability safe harbours and curb online investment misinformation
The Government of Alberta has amended the Securities Act (Alberta), enhancing the Alberta Securities Commission's (ASC) tools for investor protection. The changes extend statutory civil liability protections to climate-related disclosures and strengthen the ASC's ability to address false or misleading online investment information. These amendments, part of Bill 12, the Financial Statutes Amendment Act, 2025 (No.2), received royal assent on December 11, 2025.