DEFINITION of 'Alberta Securities Commission - ASC'
The provincial regulatory agency that is responsible for administering the province of Alberta's securities laws. Alberta securities commission objectives are to foster fair and efficient capital markets in Alberta, and to protect investors. The ASC, as it is commonly known, is a member of the Canadian Securities Administrators, the voluntary umbrella organization of Canada's provincial and territorial securities regulators.
BREAKING DOWN 'Alberta Securities Commission - ASC'
The ASC has two operational levels - ASC members and staff (which includes executive management). ASC members set policy and recommend changes to the Securities Act and regulations. Staff responsibilities include daily operations, as well as registration, prospectus review and exemption, and enforcement.
The ASC is a key organization in the Canadian securities industry, as the province of Alberta is one of the biggest producers of energy globally, while the city of Calgary is home to the head offices of numerous Canadian companies.