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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 finalizes rule amendments to facilitate cross-border offerings by Alberta issuers

Aug 10 2018

CALGARY – August 10, 2018 – The Alberta Securities Commission (ASC) today published a new rule which will facilitate offerings by Alberta issuers to investors outside Alberta by reducing the regulatory impediments to such offerings. The new rule, ASC Rule 72-501 Distributions to Purchasers Outside Alberta, will take effect on August 31, 2018. It repeals and replaces an existing rule of the same name, which was originally implemented in 1998.

The new rule significantly expands upon the exemptions available when an Alberta issuer seeks to distribute securities to investors outside of Canada. It also provides a prospectus exemption for distributions made under the offering memorandum exemption within Canada. The exemptions are conditional on material compliance with the disclosure requirements of the purchaser’s jurisdiction. The rule also contains prospectus exemptions for the resale of securities outside of Canada if the issuer is not a reporting issuer in any jurisdiction within Canada.

“This rule is a key part of the ASC’s business plan to deliver intelligent regulation that supports a thriving capital market for Alberta issuers. It strikes the right balance between investor protection and facilitating cross-border offerings by avoiding the duplicative application of Alberta requirements, where the offering is subject to foreign securities laws,” said Stan Magidson, Chair and Chief Executive Officer of the ASC.

The ASC Notice Repeal and Replacement of Alberta Securities Commission Rule 72-501 Distributions to Purchasers Outside Alberta, as well as the new rule and accompanying companion policy, are available for review on the ASC’s website at albertasecurities.com.

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