Apparently, the regulators as well as management may become the victims as a result of their non mitigation of risk. Not only the regulators as a whole, but even the employees of the regulators, may be at considerable risk.

Not picking on the ASC (Alberta Securities Commission), but the employees of such, are public servants. These same public servants will be affected by new Alberta Pension changes, perhaps unfavourably. By these employees of the ASC, perhaps not enforcing securities law to greater extent, has allowed for their pension monies to be lessened by the forces of the markets, where their own pension monies are also invested. To put it simple, and the same for the BCSC employees, by turning the other cheek while in a position of authority, have contributed to their own demise, and have unknownly become victims of their own negligence.

http://www.servicealberta.ca/foip/documents/publicbodylist.pdf

“The frigid temperatures are appropriate because the minister and the government have really left public sector workers and retirees out in the cold,” said Heather Smith, president of the United Nurses of Alberta.

http://www.huffingtonpost.ca/2014/02/24/alberta-public-sector-pensions_n_4849882.html

This is only perhaps a prelude of whats to come. The more the governments allow the robbing and manipulation of the markets to continue, the more that other people must pay, to continuously feed the market participants, that are "above the law". Legislation doesn,t really need to be enacted to secure the markets, its already there, its only not enforced for many strange reasons.

I believe some individual regulatory employees may soon speak up on what really goes on when they try to enforce some laws.