ASC finds that Terrance Anthony Sweeney breached Alberta securities laws

EmitenTrust.com CALGARY, AB, Oct. 6, 2026 /CNW/ -- An Alberta Securities Commission (ASC) panel has found that Terrance Anthony Sweeney breached Alberta securities laws by perpetrating a fraud on investors and making misleading or untrue statements to ASC staff.

In an October 2, 2026 decision, an ASC panel found that Sweeney raised approximately $222,800 from 15 investors between January 1, 2022 and June 30, 2023. Although he told investors their funds would be used for foreign exchange trading, the panel found that he misappropriated a significant portion for personal expenses and other unauthorized purposes, resulting in substantial or total losses for investors. The panel also found that Sweeney made false or misleading statements to ASC staff during its investigation.

The proceeding will now move into a second phase to determine what, if any, orders for sanction or cost-recovery ought to be made against Sweeney. The timing of the next steps will be set after hearing from the parties.

A copy of the decision is available on the ASC website at asc.ca.

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.

SOURCE Alberta Securities Commission