ASC appoints new Chief Accountant and Chief Financial Officer

CALGARY, AB–The Alberta Securities Commission (ASC) today announced the appointment of Cheryl McGillivray as Chief Accountant and Chief Financial Officer.

Cheryl McGillivray

McGillivray will lead the Office of the Chief Accountant which provides expert knowledge in the areas of accounting, auditing and financial reporting to ASC staff, as well as guidance to reporting issuers and their advisers to promote a high-quality framework for financial reporting by market participants. She will also lead provincial, national and international policy initiatives that relate to these areas of expertise. In her additional role as Chief Financial Officer, McGillivray will oversee a team responsible for internal controls, annual budget preparation, coordination of risk management processes and accurate and timely financial reporting to senior management, Commission Members and the Ministry of Finance.

“Cheryl brings exceptional experience to this role, with expert knowledge of complex accounting issues, significant experience in policy development and her background as a chief financial officer for public and private issuers,” said Stan Magidson, Chair and Chief Executive Officer. “She is also well regarded, both inside the ASC and in industry circles, and I am confident she will make a terrific addition to our senior management team.”

McGillivray joined the ASC in 2006 and shortly thereafter was promoted to Manager, Corporate Finance, overseeing the team responsible for continuous disclosure and offering document reviews. She was also responsible for policy development, co-leading the Canadian Securities Administrators (CSA) Climate Change and Reduction of Regulatory Burden Projects, and participating in the CSA Women on Boards project.

Prior to joining the ASC, McGillivray held various senior financial leadership positions in the private sector, for public and private issuers.

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.