News Releases
Federal Emergencies Act - An Update
ATB’s response and some frequently asked questions on the federal Emergencies Act.
By ATB Financial 24 February 2022 2 min read
Between February 14 and February 23, 2022, the Government of Canada invoked and then revoked the federal Emergencies Act, including the Emergency Economic Measures Order.
Under this order, financial service providers of all types were required to implement measures as stipulated under the orders. The measures were temporary and the focus was on a narrow group of individuals and entities actively involved in specific activities covered by the Act.
All temporary measures enacted at ATB Financial as a result of the Emergency Act orders have been released in accordance with the revocation of the order, and no further action is expected to be taken.
We understand there may have been confusion on this topic and that our clients and community members may still have questions. Please see a list of frequently asked questions (FAQs) below to help provide further clarity.
FAQs
ATB, along with all financial service providers in Canada, was impacted by the Emergencies Act order and required to act in accordance with the measures as stipulated by the federal government in the Emergency Economic Measures Order. The order covered a broad range of institutions in the financial sector, from securities dealers to payment providers and crowdfunding platforms.
As a Crown corporation, we’re governed by the ATB Financial Act in Alberta. ATB is required to follow all provincial and federal laws, rules and regulations in the provision of financial services, including with respect to money laundering and other criminal behavior.
The federal government indicated that the measures in the Emergencies Act order were intended to be temporary and were focused on individuals and entities actively involved in specific activities covered by the Emergency Economic Measures Order. The vast majority of clients were not impacted by these measures.
At no time was ATB Financial directed to address donor contributions.The federal government indicated that the measures in the Emergencies Act order were intended to be temporary and were focused on individuals and entities actively involved in specific activities covered by the Emergency Economic Measures Order. Individuals not actively involved in those activities were not directly impacted by these measures.
If you have questions about your accounts, please contact our Client Care Centre, available 24/7.
To access the email form, click on the 'email us' link found at atb.com/contact. You also have the option to call (1-800-332-8383) or access live chat from the same contact page.
If feelings of fear or uncertainty have you questioning whether your funds are secure, please know that your deposits are safe. ATB, like all financial service providers in Canada, was impacted by the Emergencies Act order and was required to follow the measures stipulated by the federal government in the Emergency Economic Measures Order.
ATB continues to put our clients first. We’ve never shut down during an emergency and we’ve never been unable to grant our clients rightful access to their funds. The repayment of money deposited with ATB Financial and interest payable on that money is guaranteed by the Alberta government.