Alberta is stepping up securities enforcement by automatically adopting sanctions imposed in other provinces and applying them to securities scofflaws in that province.

A new provision in its securities law that took effect July 1 means most new disciplinary decisions and settlement agreements issued in other provinces automatically take effect in Alberta, too, the Alberta Securities Commission (ASC) announced in a notice on Thursday.

For example, a one-year trading ban imposed in Ontario would also apply in Alberta.

Any sanctions, conditions, restrictions or requirements that are imposed this way on a person, or a company, will take effect without notice to them and without a hearing, the notice indicates.

The other regulators’ orders will apply as if they were made by the ASC, according to the notice, and if the original order is varied, amended or revoked for some reason, that change will also automatically take effect in Alberta.

Enforcement orders from foreign regulators, such as the U.S. Securities and Exchange Commission (SEC), or from a self-regulatory organization, will still require a hearing before they can be reciprocated.

“This provision will take a good system of inter-jurisdictional reciprocation of enforcement decisions, and make it even faster and more effective,” said Bill Rice, chairman and CEO of the ASC, in a statement.

“When there are findings or admissions of a breach of securities laws, or acts contrary to the public interest in another province or territory, sanctions such as cease-trade orders and director and officer bans will instantly have effect in Alberta as well. That’s a very positive step to protect Alberta investors and market participants,” he added.