Fostering integrity in Alberta's energy market
Alberta is Canada’s leading energy jurisdiction, with industries including oil and gas, utilities, pipelines and renewable energy playing a critical role in our economy. The ASC monitors current market activity, anticipates future challenges, collaborates with other organizations and acts decisively in order to promote confidence, inform and protect investors and support market integrity.
Information from the public and market participants complements the work done by the ASC to identify misconduct. If you are aware of wrongdoing, we encourage you to contact us.
Do you have a complaint related to energy derivatives?
The ASC receives and assesses complaints related specifically to energy derivatives. Complaints could include suspicious activities or potential violation(s) of the Securities Act (Alberta) or Alberta securities regulation, such as:
- Engaging in prohibited transactions.
- Making false or misleading representations.
- Market manipulation.
- Non-compliance with Alberta securities regulation.
If you have knowledge of misconduct related to options, swaps, futures, forwards and other contracts or instruments based on energy products (including oil, natural gas, electricity, carbon credits/emission allowances, and related products), please report your concerns to the ASC.
|
Energy derivatives complaints: To submit your complaint, complete the online form. |
Do you have another type of complaint?
If you have concerns about a company you have invested in, or you believe a company or individual has breached securities law not related to energy derivatives, please visit our Enforcement Complaints page.
Are you a whistleblower?
Whistleblowers can provide a valuable public service by sharing information about securities misconduct that would otherwise be difficult to detect.
Are you an employee, director or contractor of a person or company with critical information about unlawful conduct? Visit the Office of the Whistleblower page to learn more about the protections available for whistleblowers and information on how to submit a tip.
FAQs
- The ASC’s Market Regulation, Derivatives Oversight team will intake and assess the complaint. Staff will first review the complaint to determine whether:
- The ASC is the appropriate regulator to address the matter (if it is not, a referral will be made to the appropriate regulatory body);
- The complaint is related to an energy derivative; and
- The allegation(s) in the complaint could be a potential significant breach of the Securities Act. In this case, a referral may be made to the ASC’s Enforcement division.
- Any type of derivative contract that is based on energy products is in scope and considered applicable for the energy derivative complaints process. These would include products listed and traded on an exchange or transacted over-the-counter (OTC).
- However, the complaint process excludes OTC derivatives that:
- (i) allow for delivery of the energy product (either physically or through delivery of ownership), unless the trading strategy includes a combination of futures and OTC physically-settled contracts; and
- (ii) are within the exclusion from the definition “specified derivative” under paragraph 2(1)(d) of Multilateral Instrument 91-101 Derivatives: Product Determination.
- Yes, you can submit a complaint anonymously. However, we strongly urge complainants to provide contact information as we often contact complainants for more information. If you wish to submit supporting documents for your complaint, we allow complaint submissions that include limited contact information, however, we require a valid email address. The identity of complainants is kept confidential to the extent permitted by law.
- Complaints may take several weeks to months to assess depending on the complexity of the matter included in the complaint. Staff may contact the complainant (if not submitted anonymously) during the assessment process if additional information is required to help support the review.
- Generally, complainants will not be notified of the outcome upon completion of the review and assessment in order to protect the integrity of the assessment process. Staff will take appropriate actions internally to address any contraventions or non-compliance with Alberta securities laws and regulations. If enforcement action is taken against an individual or a company, this information is a matter of public record and is available on the Enforcement Orders or Proceedings pages on the ASC website. Some disciplinary action also becomes a matter of public record. However, unless and until such public proceedings or other disclosures occur, our confidentiality rules mean that we do not reveal the status of investigations, even to complainants.