Alberta

Newly established group will support innovation and diversification in the province’s economy

News Release
Newly established group will support innovation and diversification in the province’s economy

CALGARY — The Alberta Securities Commission (ASC) announced today that it has established a New Economy division. Denise Weeres has been appointed Director of the New Economy division, and will coordinate efforts across the ASC to facilitate capital raising by new economy companies entering the capital market, as well as anticipate and act on issues and opportunities relating to emerging financial technologies.

“We’re at a key inflection point in Alberta’s capital markets. There are concerted efforts to diversify our economy, while global forces have led to rapidly changing market dynamics and the introduction of transformative financial technologies and products,” said Stan Magidson, Chair and Chief Executive Officer. “The establishment of the New Economy division reflects our commitment to ensuring we meet the challenge of fostering innovation in these areas while maintaining strong investor protection.”

Mr. Magidson continued, “Denise is a proven leader with experience in advancing initiatives to create an effective regulatory framework that encourages innovation, as well as in raising capital on the issuer side. We are delighted to welcome her to the senior management team to spearhead the important efforts of our New Economy division.”

Ms. Weeres most recently held the position of Manager, Legal in the ASC’s Corporate Finance division. In this position, she provided leadership in pivotal policy initiatives such as the Canadian Securities Administrators’ (CSA) regulatory sandbox initiative, which supports financial technology businesses intending to offer innovative products, services and applications in Canada. She also played a key role in developing various exemptions to facilitate new financing alternatives including the ASC’s crowdfunding regime, which enables small and medium businesses to raise capital online, and provided oversight of TSX Venture Exchange matters.

Prior to her most recent position with the ASC, Ms. Weeres played a central role in public and private financings as General Counsel and Corporate Secretary at a growth-oriented TSX-listed oil company. Previously, she served as General Counsel at the ASC, and as Manager of Corporate Finance Policy at the predecessor to the TSX Venture Exchange where she was involved in the creation of the Exchange and the development of its Corporate Finance Manual.

Earlier in her career, Ms. Weeres practised corporate, commercial and securities law in Calgary and Vancouver, and has acted for both senior and junior companies and their underwriters in connection with various financings, mergers and acquisitions. Ms. Weeres holds a Bachelor of Laws from the University of Alberta and is a member of the Law Society of Alberta.

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.

 

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