Types of Regulatory Instruments 

  • ASC rules are in force only in Alberta;
  • National Instruments are securities rules in force in all Canadian provinces and territories;
  • Multilateral Instruments are securities rules in force in each Canadian province and territory that elects to adopt the Multilateral Instrument;
  • Companion Policies are statements of policy that accompany a National Instrument, Multilateral Instrument or an ASC Rule and give guidance about the instrument or rule;
  • Forms identify the type of information that must be provided to the ASC in connection with an instrument or rule;
  • Policies stand alone and do not accompany a specific instrument or rule;
  • Blanket Orders exempt market participants from specific securities laws under specific circumstances;
  • Notices inform market participants about important new developments in securities regulation.  Notices can be issued as Canadian Securities Administrators (CSA), Multilateral or ASC Notices. All notices in the Regulatory Instrument Table accompany a specific regulatory instrument.