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The national registration search contains the names of all individuals and firms who are registered to sell securities in Canada, with the exception of those registered solely with the Ontario Securities Commision (OSC).

ASC suspends the registration of Wells Asset Management System Inc. and the registration of Dale Wells

Jan 31 2019

CALGARY – January 31, 2019 – The Alberta Securities Commission (ASC) has suspended the registrations of Wells Asset Management System Inc. and its principal Mr. Dale Richard Wells.

A review identified significant concerns with the firm’s compliance with securities laws. Prior to the suspension, Wells Asset Management System Inc. operated as an investment fund manager and portfolio manager based in Lloydminster, Alberta. The ASC imposed terms and conditions in July 2018 that restricted the firm’s activities. The suspensions have been implemented as part of an orderly transition that followed placing the firm’s managed funds under a new fund manager.

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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For further information please contact: ​​

For Media Inquiries:
Hilary McMeekin
Communications Manager
403-592-8186
For Investor Inquiries:
ASC Public Inquiries
Toll Free 1-877-355-4488
inquiries@asc.ca