About
I am the Director of Advanced Research and Knowledge Management at the Alberta Securities Commission, and Chair of the Financial Innovation Hub with the Canadian Securities Administrators (CSA). I am also an adjunct professor at the University of Calgary Faculty of Law.
I have published, and spoken extensively on various topics in crypto-asset and fintech regulation, securities, and derivatives law in international anthologies, peer-reviewed and U.S. law reviews including the Banking and Finance Law Review, the Canadian Business Law Journal, the Virginia Law & Business Review, the Routledge Handbook of Fintech, the University of Pennsylvania Journal of Business Law, the Houston Business and Tax Law Journal, the University of Calgary School of Public Policy Research Paper Series, the Alberta Law Review, the Journal of Law & Education, the Michigan Business & Entrepreneurial Law Review, the William & Mary Business Law Review, the Wake Forest Law Review Online, the DePaul Business & Commercial Law Journal, the William & Mary Business Law Review and the Wolters Kluwer Research Handbook on the Law of Fintech. I published an expert report on Canadian cryptocurrency governance for the Public Order Emergency Commission. A complete list of my publications and presentations can be found on my personal website - www.ryanclements.com
I received my Doctorate in Juridical Science (SJD) at Duke University Law School, where my dissertation focused on post-crisis financial product innovation and exchange traded funds. I obtained my Master of Laws (LLM), Magna Cum Laude, from Duke University Law School, my LLB (with Distinction), and my BA Economics (Honors, First Class) from the University of Alberta. I have advised various levels of government on fintech, crypto and securities matters and served on advisory boards of public and private fintech ventures. I have practiced corporate and securities law in Calgary and Toronto and am a member of both the Law Society of Alberta and Ontario, and the Managing General Editor, and special fintech co-editor, of the Banking and Finance Law Review. I was previously an Assistant Professor and Chair in Business Law and Regulation at the University of Calgary Faculty of Law, Senior Policy Advisor at the Alberta Securities Commission (ASC), a member of the crypto-asset working group of the Investment Industry Regulatory Organization of Canada (IIROC), the New Economy Advisory Committee at the ASC, and Canadian Securities Administrators Investor Advisory Panel.
Activity
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Congratulations to my awesome daughter Imogen Baxter for being selected as one of the Super Lawyers in the 2025 North Carolina Rising Stars list.…
Congratulations to my awesome daughter Imogen Baxter for being selected as one of the Super Lawyers in the 2025 North Carolina Rising Stars list.…
Liked by Dr. Ryan Clements
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To have spent this past weekend at the World University Service of Canada (WUSC - EUMC) National Training was an absolutely inspiring experience! The…
To have spent this past weekend at the World University Service of Canada (WUSC - EUMC) National Training was an absolutely inspiring experience! The…
Liked by Dr. Ryan Clements
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I was a guest on CBC News Network with Natalie Kalata as we discussed the Canada Border Services Agency | Agence des services frontaliers du Canada’s…
I was a guest on CBC News Network with Natalie Kalata as we discussed the Canada Border Services Agency | Agence des services frontaliers du Canada’s…
Liked by Dr. Ryan Clements
Experience
Education
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Activities and Societies: Merit Scholarship Recipient Viscount Bennett Scholarship Recipient (Law Society of Alberta) Frequent Contributor to Duke Global Financial Markets Center Blog, Contributor to Fintech Coursera Project Research Interests: Fintech, Adaptive Regulation, Financial Regulation, Derivatives, Corporate Governance, Alternative Business Structures, and Corporate Ethics
LLM, Duke Law School, Class of 2017/18
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•Dean’s List, First Class Standing in all years, 3.8/4.0 cumulative GPA
•Louise McKinney Scholarship (top 2% in Faculty of Law)
•Judge Nelles V. Buchanan Memorial Scholarship in Litigation
•Canadian Petroleum Tax Society Award (Highest Standing in Corporate Tax)
•Lloyd W Gardiner Memorial Prize in Trusts (Highest Standing in Trusts)
•Chomicki Baril Mah LLP Prize in Civil Procedure (Highest Standing in Civil Procedure)
•Jim Brimacombe Moot Court Competition 2nd…•Dean’s List, First Class Standing in all years, 3.8/4.0 cumulative GPA
•Louise McKinney Scholarship (top 2% in Faculty of Law)
•Judge Nelles V. Buchanan Memorial Scholarship in Litigation
•Canadian Petroleum Tax Society Award (Highest Standing in Corporate Tax)
•Lloyd W Gardiner Memorial Prize in Trusts (Highest Standing in Trusts)
•Chomicki Baril Mah LLP Prize in Civil Procedure (Highest Standing in Civil Procedure)
•Jim Brimacombe Moot Court Competition 2nd Place
•Selected to compete in 2006 Canadian Corporate Securities Moot Court Competition
•Alberta Law Foundation Scholarship for Academic Excellence
•Abe W. Miller Prize in Criminal Law
•Edmonton Bar Association Entrance Scholarship -
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•Dean’s List, First Class Standing, University of Alberta Faculty of Arts (2002-2004)
•Louise McKinney Scholarship (top 2% in Economics program)
•HSBC Award in Economics
•Golden Key International Honors Society
•KD Verdville and DM Lowtan Scholarship
•Andrew Stewart Scholarship in Economics -
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Completed Program on Negotiations for Senior Executives & Dealing with Difficult People and Difficult Situations Courses
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Licenses & Certifications
Volunteer Experience
Publications
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Crypto Asset Regulation in Canada: Developments and Governance Considerations
39(3) Banking and Finance Law Review 345 (2023)
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Entry Barriers in Fintech
Chapter in Konstantinos Stylianou et al. eds. Fintech Competition ( 2023 London: Bloomsbury-Hart).
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Could Alberta Enact a Sub-National Open Banking Regime?
(2022), 15:30 University of Calgary School of Public Policy SPP Research Paper
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Defining the Regulatory Perimeter for Stablecoins in Canada
(2022), 66 C.B.L.J. 201 (Canadian Business Law Journal)
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Cryptocurrency: Challenges to Conventional Governance of Financial Transactions”
Expert Commissioned Report to the Public Order Emergency Commission
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Non-Intermediate Clearing of Crypto Derivatives on Margin is a Bad Idea
Duke University School of Law, Global Financial Markets Center Financial Regulation Blog
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Why Comparability is a Greater Problem Than Greenwashing in ESG ETFs
13 William & Mary Business Law Review 441 (2022)
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Emerging Canadian Crypto-Asset Jurisdictional Uncertainties and Regulatory Gaps
37.1 BANKING AND FINANCE LAW REVIEW (2021), forthcoming
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Built to Fail: The Inherent Fragility of Algorithmic Stablecoins
11 Wake Forest L. Rev. Online 131
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ESG ETFs and the Costs of Information Synthesis
Duke University School of Law, Global Financial Markets Center Financial Regulation Blog
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Misaligned Incentives in Markets: Envisioning Finance That Benefits All of Society
19 DePaul Business & Commercial Law Journal 1
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We’ve Got New Harmonized Crowdfunding Rules. But How Will Industry Respond?
ABlawg (University of Calgary Faculty of Law Blog)
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Book Review, The Code of Capital: How The Law Creates Wealth and Inequality
36 Banking & Finance Law Review 323 (2021)
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Financial Inclusion in British Columbia: Evaluating the Role of Fintech
Government of British Columbia, Expert Panel on Basic Income Research Paper
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Exchange-Traded Confusion: How Industry Practices Undermine Product Comparisons in Exchange Traded Funds
CLS Blue Sky Blog (Columbia Law School’s Blog on Corporations and the Capital Markets)
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Exchange-Traded Confusion: How Industry Practices Undermine Product Comparisons in Exchange Traded Funds
15(2) Va. L. & Bus. Rev. 125 (2021)
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Are ETFs Making Some Asset Managers Too Interconnected To Fail?
22(4) U. PA. J. BUS. LAW 722 (2020)
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New Funds, Familiar Fears: Are Exchange Traded Funds Making Markets Less Stable? Part II Interaction Risks
21(1) Hou. Bus. & Tax L.J. 1 (2020)
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Regulating Fintech in Canada and the United States: Comparison, Challenges and Opportunities (2020),
K. Thomas Liaw ed. THE ROUTLEDGE HANDBOOK OF FINTECH (2021, London: Routledge).
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Are ETFs Making Some Asset Managers Too Interconnected To Fail?
CLS Blue Sky Blog (Columbia Law School’s Blog on Corporations and the Capital Markets)
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What Have We Learned So Far About ETFs In The COVID-19 Crisis?
Duke University School of Law, Global Financial Markets Center Financial Regulation Blog
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New Funds, Familiar Fears: Do Exchange Traded Funds Make Markets Less Stable? Part I, Liquidity Illusions
20 HOU. BUS. & TAX L. J. 15 (2020).
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Fintech Regulation in Canada
Claudia Sandei, Marco Cian eds. RESEARCH HANDBOOK ON THE LAW OF FINTECH (2020, Wolters Kluwer Italia).
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Regulating Fintech in Canada and the United States: Comparison, Challenges and Opportunities
12:23 UNIVERSITY OF CALGARY, SCHOOL OF PUBLIC POLICY, SPP RESEARCH PAPERS (August 2019).
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Safe Until They Aren't? Investigating Liquidity Illusions In The Exchange Traded Fund Market
Duke Global Financial Markets Center Financial Regulation Blog
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Evaluating The Costs and Benefits of a Smart Contract Blockchain Framework For Credit Default Swaps
Machine Lawyering Blog, Chinese University of Hong Kong
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Can A Cryptocurrency Self-Regulatory Organization Work: Assessing Its Promise and Likely Challenges
Duke Global Financial Markets Center Financial Regulation Blog
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Can a Cryptocurrency Self-Regulatory Organization Work? Assessing Its Promise and Likely Challenges
Duke University School of Law, Global Financial Markets Center, Financial Regulation Blog
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Evaluating The Costs and Benefits Of A Smart Contract Blockchain Framework For Credit Default Swaps
10 WM & MARY BUS. L. REV 369 (2019)
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Blockchain is Overhyped
Duke Global Financial Markets Center Financial Regulation Blog
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Assessing the Evolution of Cryptocurrency: Demand Factors, Latent Value and Regulatory Developments
8 MICH. BUS. & ENTREPRENEURIAL L. REV. 73 (2018).
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If We Can, Does It Mean That We Should? Volatility Linked ETPs and The Recent Crash
Duke University School of Law, Global Financial Markets Center, Financial Regulation Blog
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Trump's 'Big-League' Tax Reform: Assessing the Impact and Constitutionality of the President's Proposed Changes
7 MICH. BUS. & ENTREPRENEURIAL L. REV. 1 (2017)
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Why A Bitcoin Bubble Is A Good Thing
Duke Law School Global Financial Markets Centre Financial Regulation Blog
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The Case For A Cryptocurrency Market Bubble
Duke University School of Law, Global Financial Markets Centre, Financial Regulation Blog
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New CFTC Primer Casts Uncertainty on Unregulated Utility Token Market. Is This An Application of Goodhart’s Law?
Duke University School of Law, Global Financial Markets Centre, Financial Regulation Blog
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Decoding The Demand For Cryptocurrency: What Is Driving The Historic Price Surge?
Duke University School of Law, Global Financial Markets Centre, Financial Regulation Blog
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Is an ICO a Sale of Securities: An Analysis of the DAO Offering
Duke Global Financial Markets Centre Fin Reg Blog
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Private Interests, Public Borders, and NAFTA’s Chapter 11: Lessons from the Mad Cow Saga (co-authored with Moin Yahya).
45:2 ALTA. L. REV. 381-399 (2007)
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The Kyoto Protocol: Overview, Critiques, and Canadian Implementation
The Centre for Applied Business Research in Energy and the Environment, 2005
2005 Climate Change Initiative Workshop Report, Edmonton, Alberta
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Entry Barriers in Fintech
in Marios Iacovides et al. eds. FINTECH COMPETITION (forthcoming, 2022 London: Bloomsbury-Hart).
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Privatizing the Canadian Gaming Industry – Is it in the Cards?
Canadian Gaming Association
2008 Canadian Gaming Summit: Legal and Regulatory Program Conference Proceedings (co-authored with Gerold Goldlist)
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Unsuited: How We Can Reject Conventional Career Advice And Find Empowerment
Sense Publishers B.V.,.
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Why Comparability is a Greater Problem Than Greenwashing in ESG ETFs
(forthcoming) 13 William & Mary Business Law Review __ (2022)
More activity by Dr. Ryan
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This weekend I had the incredible opportunity to attend the World University Service of Canada (WUSC - EUMC) national training in Ottawa alongside…
This weekend I had the incredible opportunity to attend the World University Service of Canada (WUSC - EUMC) national training in Ottawa alongside…
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I am honored to be invited by Virginia T. the Chief Editor of Banking and Finance Law Review, and Nydia Remolina the Guest Editor, to write the lead…
I am honored to be invited by Virginia T. the Chief Editor of Banking and Finance Law Review, and Nydia Remolina the Guest Editor, to write the lead…
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Allister, thanks for including me as one of your podcast guests. Keep up the great work helping to protect against fraud!
Allister, thanks for including me as one of your podcast guests. Keep up the great work helping to protect against fraud!
Liked by Dr. Ryan Clements
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Kudos to MIT's Computer Science and Artificial Intelligence Laboratory for establishing a new "AI Risk Repository," a central database for cataloging…
Kudos to MIT's Computer Science and Artificial Intelligence Laboratory for establishing a new "AI Risk Repository," a central database for cataloging…
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Ten years at the ASC. This is the longest by far that I’ve ever been with a single employer since I started my career 25 years ago. (Which suggests…
Ten years at the ASC. This is the longest by far that I’ve ever been with a single employer since I started my career 25 years ago. (Which suggests…
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I am honored to announce I have been selected as a recipient of the James Wattie Memorial Essay Scholarship in International Relations. I will be…
I am honored to announce I have been selected as a recipient of the James Wattie Memorial Essay Scholarship in International Relations. I will be…
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This week, Suzanne Lasrado, our Vice President of Member Services and Innovation, represented CIRO at the Blockchain Futurist Conference in Toronto…
This week, Suzanne Lasrado, our Vice President of Member Services and Innovation, represented CIRO at the Blockchain Futurist Conference in Toronto…
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📢 New Episode Alert! 🎧 Excited to share the latest episode of the FinReg Pod, featuring an interview with Harvard Law Professor John Coates, a…
📢 New Episode Alert! 🎧 Excited to share the latest episode of the FinReg Pod, featuring an interview with Harvard Law Professor John Coates, a…
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Iconic photo from Ezra Shaw of Steph Curry shooting a three over Victor Wembanyama.
Iconic photo from Ezra Shaw of Steph Curry shooting a three over Victor Wembanyama.
Liked by Dr. Ryan Clements
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Alexandra Minuk and I share our thoughts on how to integrate financial literacy into the high school curriculum without jeopardizing students'…
Alexandra Minuk and I share our thoughts on how to integrate financial literacy into the high school curriculum without jeopardizing students'…
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