The ASC’s regulatory jurisdiction includes creation of rules and policy and monitoring and enforcing statutory requirements and rules related to

• the initial offering of securities, primarily by mandating disclosure by way of a prospectus or an exemption from the prospectus requirement
• the ongoing disclosure required to support secondary trading of securities
• licensing and regulation of those in the business of advising in respect of securities or derivatives e.g., portfolio managers
• licensing and regulation of those in the business of trading in respect of securities or derivatives e.g., dealers
• licensing and regulation of those who manage investment funds (collective investment schemes)
• licensing and regulation of exchanges and other marketplaces that facilitate secondary trading of securities or derivatives
• licensing and regulation of clearing agencies engaged in the clearing of securities and derivatives
• trade reporting, segregation and margin requirements respecting over-the-counter derivatives
• licensing and regulation of credit rating agencies whose ratings are used for securities or derivatives law purposes
• regulation of financial benchmarks.

Securities regulators in Canada coordinate oversight and regulation of the different capital market participants in Canada. The ASC is the principal regulator for all issuers and registrants (dealers and advisers) headquartered in Alberta. 

The ASC is the principal regulator of ICE NGX, the electronic trading exchange and clearing agency for natural gas and electricity spot market and futures. The ASC is the co-principal regulator for the TSX Venture Exchange, Canada’s largest venture (junior) stock exchange. 

The ASC has the authority to grant relief by rule or on a discretionary basis (to a single applicant or on a ‘blanket’ basis to a class of parties or circumstances) from the requirements of Alberta securities and derivatives law. That relief can be passported in other jurisdictions. In addition, the ASC has certain limited authority to grant relief from the Business Corporations Act (Alberta). 

The ASC is also responsible for oversight of self-regulatory organizations to whom certain oversight e.g., market surveillance and licensing/registration of dealers has been delegated.