News Release

ASC adopts Start-up Crowdfunding Blanket Order

Oct 02, 2019

CALGARY – October 2, 2019 – To eliminate unnecessary barriers to financing, and better facilitate access to capital for start-ups and other small businesses, the Alberta Securities Commission (ASC) has adopted Blanket Order 45-521 Start-up Crowdfunding Registration and Prospectus Exemptions (the Blanket Order). This Blanket Order provides an exemption from prospectus and registration requirements to facilitate start-up crowdfunding. Both issuers and registered funding portals can use the Blanket Order. It is also available to unregistered funding portals as soon as they comply with the terms of the registration exemption, which includes receiving confirmation that ASC staff have received all required documents.

“The ASC continues to participate with its colleagues in the Canadian Securities Administrators in implementing a national instrument to address start-up crowdfunding,” said Stan Magidson, Chair and Chief Executive Officer of the ASC. “The Blanket Order is intended as an interim measure before a national instrument is implemented. It will increase harmonization and facilitate Alberta businesses raising money in multi-jurisdictional start-up crowdfunding offerings in participating jurisdictions and allow Alberta investors to participate, while still providing appropriate investor protection.”

A copy of the Blanket Order can be found on our website at

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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Curt Boechler
Senior Communications Advisor

ASC Public Inquiries
Toll Free: 1-877-355-4488