Alberta Securities Commission (ASC)
The Alberta Securities Commission is the regulatory agency responsible for administering the province’s securities laws. At WSAC, we share the ASC’s mission: to foster a fair and efficient capital market in Alberta and protect investors.
UPDATES FROM OUR FRIENDS AT ASC
As part of our commitment to financial wellness and seniors’ fraud prevention, we’re excited to partner with the ASC to bring you valuable resources and updates. From time to time, we’ll be highlighting investment tips and fraud alerts from their organization to help you make informed decisions and stay safe from financial scams.
Below is the update from the ASC!
Enhancing investor protection: What OBSI’s binding authority means for investors
By Rebecca Vargese – September 10, 2025
Imagine you notice unexpected fee charges in your investment account or feel your financial advisor has given you advice that resulted in unexpected losses. You first raise your concerns with your advisor, then escalate to their manager, but your issue remains unresolved. Frustrated, you turn to the Ombudsman for Banking Services and Investments (OBSI), Canada’s independent dispute-resolution service.
After a detailed investigation, OBSI finds adequate reasons for your complaint and finds in your favour. OBSI recommends that your advisor compensate you for the financial loss you have experienced.
However, under the current system, OBSI’s authority is limited. Its recommendations are not legally binding. Firms can choose not to follow OBSI’s recommendations, leaving everyday investors without meaningful recourse.
Change, however, is on the horizon. As part of the initiative to enhance OBSI’s authority in resolving disputes between investors and their firms, the Canadian Securities Administrators (CSA) recently launched a second public consultation on a proposed framework. This would give OBSI the legal authority to make binding decisions in investment-related complaints.
Learn about what OBSI’s binding authority means for investors in our latest article.
Read the full article for practical tips to stay safe in a digital world of investing.
Check Registration
One of the most important steps you can take before investing is to check the registration of the individual or company offering you the opportunity through the Canadian Securities Administrators National Registration Search. Security industry professionals and firms are required to register with the securities regulator in each province or territory where they do business. If someone offers you an investment opportunity in Alberta they must almost always be registered with the ASC.
Investment Terms Fun Fact
What is a financial planner?
A financial planner is a person who determines how individuals can meet their goals through proper management of their financial resources. They offer financial services such as budgeting, cash and debt management, retirement and tax planning. Financial planners cannot trade securities or recommend investments to their clients unless they are registered with the provincial securities regulator in their province.
Investment Caution List
Did you know The ASC provides a searchable list of companies and individuals that are not registered in Alberta but appear to be engaging in activities that require registration under Alberta securities laws, or may be an investment scam.
This article was originally published on the Alberta Securities Commission’s (ASC) investor education website CheckFirst.ca. The ASC is the regulatory agency responsible for administering the province’s securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate, and harmonize the regulation of Canada’s capital markets.
