Alberta's securities laws updated to reflect evolving capital market

CALGARY, AB, Dec. 18, 2025 /CNW/ - The Government of Alberta has passed legislative amendments to the Securities Act (Alberta) put forward by the Alberta Securities Commission (ASC) that are designed to protect Albertans, their investments, and the integrity of Alberta's capital market. The amendments will help the ASC address evolving threats to investor protection and ensure that existing safe harbours or defences from statutory civil liability can reasonably apply to new areas of issuer disclosure, such as climate-related disclosure.

"We are pleased that the Government of Alberta has passed legislation that will further enhance the ASC's ability to protect investors and ensure that our capital market is fair and efficient," said Stan Magidson, Chair and CEO of the ASC. "These amendments evolve Alberta securities laws to be responsive to changes in the financial markets, technology and industry trends."

The Securities Act (Alberta) establishes Alberta's securities laws and gives the ASC its powers and duties. It ensures that Alberta's capital market works for participants and that investors have timely, accurate information on which to base their investment decisions.

Amendments to the Securities Act can be grouped into two categories:

Extending the safe harbour regime

The ASC now has the ability to extend the existing safe harbour regime for statutory civil liability under the Securities Act for issuers to include climate-related disclosure. Securities legislation currently provides companies with defences or safe harbours from third-party lawsuits in certain cases (e.g., where they conducted a reasonable investigation). The amendments would allow the ASC to tailor these safe harbours to address liability under securities laws for climate-related disclosure.   

Although the Canadian Securities Administrators (CSA) paused development of a mandatory climate-related disclosure rule in April 2025, current securities legislation in Canada requires disclosure of specified material information in an issuer's regulatory filings. Further, Alberta issuers may be making climate-related disclosure voluntarily, or pursuant to other laws, and it is important that the existing defences are available.

Limiting the online spread of false or misleading information

Albertans are increasingly turning to the internet and social media for financial information, prompting the ASC to make amendments that provide the ability for the ASC to address problematic promotional activity. The amendments also allow the ASC to better respond to the spread of false or misleading investment information through online communication channels, including through the use of its halt trade power, in appropriate circumstances.

All of the Securities Act amendments summarized were included in Bill 12, the Financial Statutes Amendment Act, 2025 (No.2), which received royal assent on Thursday, December 11, 2025. The amendments are now in force.

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 with 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.

SOURCE Alberta Securities Commission

For further information please contact: For Media Inquiries: Tanja McMorris, Senior Advisor, Communications, [email protected]; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488