ASC joins international network committed to supporting financial innovation

News Release
ASC joins international network committed to supporting financial innovation

CALGARY – To help support innovation in the capital markets and the fintech (financial technology) industry, the Alberta Securities Commission (ASC) has become a member of the Global Financial Innovation Network (GFIN).

GFIN is comprised of 29 organizations including regulators from around the world, aiming to enhance information sharing between financial services regulators on innovation related topics. The group plans to provide a more efficient way for innovative firms looking to operate in multiple countries.

“The ASC actively participates on the Canadian Securities Administrators’ Regulatory Sandbox Committee which facilitates cooperation across Canada in assessing technological innovations that intersect with securities regulation,” said Denise Weeres, Director, New Economy at the ASC. “Joining GFIN allows us to expand these efforts on a global scale and provides a forum for sharing experiences and approaches to new regulatory technology.”

Consultation conducted by the GFIN indicated widespread support for regulatory collaboration and creating an environment that allowed firms to simultaneously trial and scale new technologies in multiple jurisdictions. Firms interested in more information or participating in upcoming testing in Alberta can visit

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.

By Christopher Lloyd Caliwan

MANILA (Philippines News Agency) — The four persons of interest in the twin bomb explosions that ripped through a church in Jolo, Sulu who have surrendered to authorities to clear their names, are now deemed innocent.

“They were removed as persons of interest in connection with the bombing incident in Jolo, Sulu. Yesterday, they freely went to the police station to give their sworn statement that they were not involved in the incident. They denied involvement in the bombing of the (Our Lady of Mount Carmel Cathedral) in Jolo, Sulu,” Senior Supt. Bernard Banac, PNP spokesperson, told reporters Thursday.

He said the four were immediately released upon verification of their statements.

Banac also said based on the probe of the Special Investigation Task Group (SITG), there was no alias Kamah among the four persons who surrendered.

“As of now, we continue to hunt down and probe those behind the bombing of the cathedral in Jolo, Sulu, especially the bandit ASG,” he said.

On Wednesday, Lt. Col. Gerry Besana, Western Mindanao Command (Westmincom) information officer, identified the four as Alshaber Arbi, 18; Gerry Isnajil, whose age was not provided; Alsimar Mohammad Albi, 24; and a 17-year-old male.

Besana said Arbi, a Grade 11 student of the Kalingalan Caluang National High School, and Isnajil, a teacher in the same school, were among those caught by a closed-circuit television (CCTV) camera after Sunday’s twin blasts at the Our Lady of Mount Carmel Cathedral in Barangay Walled City, Jolo, Sulu.

On the CCTV footage, Arbi was the person in a ponytail while Isnajil was the man in maroon baseball cap with a red backpack.

Besana said Arbi and Isnajil surrendered to Senior Supt. Pablo Labra II, Sulu police director, at about 10 a.m. Wednesday to clear their names.

He said that Alsimar and his 17-year old brother submitted themselves to Labra at about 3 p.m. on the same day for the same reason.

He said the investigation showed that prior to the explosion, the two went to a pharmacy to buy medicine for Alsimar’s mother who is confined at the Integrated Provincial Health Office hospital.

After buying medicine, a loud explosion occurred at the church and Julius immediately went near the vicinity when the second explosion occurred.

According to Besana, Alsimar called his younger brother to stay away just as the suspects who were seen behind him fled the vicinity.

According to the brothers’ statements, the two did not know the identities of the suspects and that they came out for fear that authorities would hunt them down. (PNA)

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