The ASC may issue orders against, or enter into settlement agreements with individuals or companies who have breached Alberta securities laws. Respondents are required to pay any administrative penalties, disgorgement orders, settlement monies and/or costs arising from such orders or settlement agreements as prescribed by law.
In the interest of transparency, accountability and investor protection, the ASC provides the following list of respondents who have not paid amounts ordered by the ASC or in a settlement agreement. Many orders or settlements also ban respondents from certain types of activity, such as acting as a director or officer of a public company. To access the full order or settlement, which includes information about the amounts to be paid and any additional sanctions imposed against these respondents, please click on the respondent(s) name in the "Respondents" column below.
For each respondent, status of the amount unpaid is shown as follows:
- Unpaid (full) – no payments have been made on the original amount ordered or agreed
- Unpaid (partial) – a partial amount has been paid
- Paying as agreed – payments are being made in accordance with a payment arrangement that is in effect.
Holding respondents accountable for their misconduct is important for investor protection and to protect the integrity of the Alberta capital market. Enforcing Commission orders to the full extent allowed by law, including collecting outstanding amounts owed, is key to effective deterrence. To that end, the ASC pursues all avenues of collection available, including questionings, seizure of assets, and garnishment of wages, both inside and outside the province of Alberta.
This list is updated quarterly. When an unpaid order or settlement has been satisfied, the respondent’s name will be removed from this list on the next update; the original ASC panel decision or settlement agreement will remain on the ASC website. Respondents who have appealed an ASC order will remain on this list while any appeal is ongoing.
If you have information that could help the ASC recover outstanding amounts on the list, please contact asc.collections@asc.ca.