ASC Taps Veteran Insider Deanna Steblyk as New Vice-Chair

CALGARY, AB – March 16, 2026 – The Alberta Securities Commission (ASC) is turning to a seasoned and deeply experienced insider to help guide its future, announcing the appointment of Deanna Steblyk, K.C., as its new Vice-Chair. The appointment, made by the Lieutenant Governor in Council, secures Ms. Steblyk in the key leadership role for a term set to expire on March 10, 2032.

Ms. Steblyk succeeds Tom Cotter, who is retiring after a notable 12-year tenure with the commission. In her new dual capacity as Vice-Chair and Commission Member, she will play a pivotal role in the governance of the ASC, acting as part of the board of directors that oversees management and approves critical changes to Alberta's securities laws.

Stan Magidson, Chair and CEO of the ASC, praised the transition. "I sincerely thank outgoing Vice-Chair Tom Cotter for his tremendous contributions to the ASC over the last 12 years," he stated. "I am also delighted to welcome Ms. Steblyk as Vice-Chair and look forward to her continued contributions to our mandate of ensuring a fair and efficient capital market while encouraging strong investor protection."

The appointment is being seen as a strategic move to ensure continuity and robust regulatory oversight, placing a leader with an intimate understanding of the commission’s inner workings at the helm.

A Career Forged in Regulation and Public Service

Deanna Steblyk brings a formidable resume to the Vice-Chair position, built over a distinguished career that spans both private practice and nearly two decades of public service within the ASC itself. She joined the commission in 2008, embarking on a path that gave her a unique, multifaceted view of securities regulation.

Initially, Ms. Steblyk served as litigation counsel, where she was on the front lines of the ASC's enforcement mandate. In this role, she prosecuted breaches of the Alberta Securities Act before both the Commission and the Provincial Court of Alberta. This experience provided her with a granular understanding of market misconduct and the critical importance of holding bad actors accountable to protect investors.

In 2017, she transitioned to the Office of the Vice-Chairs, taking on the role of Senior Special Counsel. For the last nine years, she has been an integral part of the commission's adjudicative and policy-making functions, assisting Vice-Chairs and other Commission Members with complex legal research and the drafting of oral and written decisions. This behind-the-scenes role means Ms. Steblyk has been deeply involved in the legal reasoning and policy considerations that have shaped the ASC’s rulings and direction for nearly a decade.

Before dedicating her career to public regulation, Ms. Steblyk spent ten years in private practice as a civil litigator at some of Canada’s most prominent law firms, including McCarthy Tetrault LLP, Burnet Duckworth & Palmer LLP, and the firm now known as DLA Piper LLP. This background provides her with valuable insight into the perspectives of market participants and the commercial realities they navigate.

Beyond the Commission: A Legacy of Leadership

Ms. Steblyk’s commitment to the legal profession and public service extends well beyond her duties at the ASC. Her extensive volunteer and leadership roles underscore a career dedicated to governance, ethics, and community service. Most recently, she served as the President of the Law Society of Alberta for the 2024–2025 term, the culmination of over two decades of volunteer work with the organization, which she joined as a Bencher in 2018.

During her presidency, she was a vocal advocate for key initiatives aimed at modernizing the legal profession, including advancing equity, diversity, and inclusion; responding to the Truth and Reconciliation Commission's calls to action; and refining the articling model for new lawyers. This experience in leading a major professional regulatory body has honed her skills in governance and stakeholder engagement.

Her impressive record of service also includes past leadership positions as Chair of the Board of Directors for both Legal Aid Alberta and the Calgary Humane Society. She is also a past President of the Association of Women Lawyers and has chaired the Canadian Bar Association Alberta's Civil Litigation subsection in the south. Her contributions to legal education as a regular guest instructor at the University of Calgary Faculty of Law further demonstrate her commitment to mentoring the next generation of legal professionals.

Her expertise and service have been formally recognized with prestigious honors, including the King's Counsel (K.C.) designation in 2020 and the Queen Elizabeth II Diamond Jubilee Medal in 2013.

Navigating the Future of Alberta's Capital Markets

As Vice-Chair, Ms. Steblyk will confront a rapidly evolving financial landscape fraught with both challenges and opportunities. Her deep background in enforcement and policy makes her particularly well-suited to navigate the ASC's top priorities. Her history as a prosecutor signals a continued emphasis on robust investor protection and vigorous enforcement, a cornerstone of market confidence.

Beyond traditional enforcement, the ASC, as a key member of the Canadian Securities Administrators (CSA), is actively working to harmonize regulations across the country. Ms. Steblyk will be instrumental in shaping Alberta's contribution to national policy on a host of complex issues. These include the ongoing challenge of regulating emerging technologies like cryptocurrency and digital assets to safeguard investors without stifling innovation.

Furthermore, the increasing global demand for transparent Environmental, Social, and Governance (ESG) disclosures is putting pressure on regulators to establish clear and consistent frameworks. Ms. Steblyk’s policy experience will be critical in developing the ASC’s approach. Coupled with persistent threats from cybersecurity and the need to maintain market stability amid economic volatility, her leadership will be tested across a broad spectrum of regulatory concerns.

Passing the Torch: Continuity and Change

Ms. Steblyk steps into the role as her predecessor, Tom Cotter, concludes a highly influential 12-year term. Mr. Cotter is credited with a significant legacy, having served on numerous panels that set key precedents in Canadian securities law. His work with the North American Securities Administrators Association (NASAA) also allowed him to contribute to the development of international securities regulation, enhancing the ASC's reputation abroad.

The appointment of Ms. Steblyk is widely seen as a masterstroke in succession planning, ensuring a seamless transition. Her deep institutional knowledge, gained over 18 years of service, guarantees stability and a continued commitment to the ASC’s core mandate. She is not an outsider learning the ropes but a veteran architect of the very system she will now help lead.

However, her leadership also promises a fresh perspective. Her unique career trajectory—from private litigator to public prosecutor, policy advisor, and president of the provincial law society—provides her with a holistic view of the legal and financial ecosystem. This blend of continuity and new perspective positions the Alberta Securities Commission to confidently address the complexities of modern capital markets, ensuring it remains a fair, efficient, and trusted regulator for years to come.