Regulatory Updates

What's new in regulation at the ASC? Check back often for the latest updates.

NOTE: Until rules or instruments become effective as evidenced by their publication in The Alberta Gazette (see section 225 of the Securities Act (Alberta)), they are subject to non-substantive changes. Should such changes occur, a revised version of the relevant rule or instrument will be published on this website.

Industry and public consultation is an important part of the regulatory process and provides good input into new or revised legislation. When the ASC or the Canadian Securities Administrators (CSA) believes new or revised regulation is required, they will typically publish the proposed new documents for public comment.

This icon identifies proposals that are currently available for public comment.

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September 2023

ASC Notice Proposed Albert Securities Commission Rule 46-503 Revocation of Purchase
CSA Notice of Publication Multilateral Instrument 93-101 Derivatives: Business Conduct and related Companion Policy
CSA Notice and Request for Comment Proposed Amendments to NI 44-102 Shelf Distributions Relating to Well-known Seasoned Issuers
CSA Staff Notice 11-346 Withdrawal of Staff Notices

August 2023

CSA Staff Notice 24-319 National Instrument 24-101 Institutional Trade Matching and Settlement – Update and Staff Recommendation
Joint CSA/CIRO Staff Notice 31 363 Client Focused Reforms: Review of Registrants’ Conflicts of Interest Practices and Additional Guidance

July 2023

CSA Staff Notice 81-336 Guidance on Crypto Asset Investment Funds that are Reporting Issuers

June 2023

CSA Notice of Amendments to MI 25-102 Designated Benchmarks and Benchmark Administrators and Changes to Related Companion Policy
CSA Staff Notice 58-315 Extension of Proposed Amendments to Form 58-101F1 Corporate Governance Disclosure of National Instrument 58-101 Disclosure Of Corporate Governance Practices and Proposed Changes to National Policy 58-201 Corporate Governance Guidelines
CSA Notice of Amendments to National Instrument 14-101 Definitions and Consequential Amendments
CSA Notice regarding Coordinated Blanket Order 24-930 Exemption from certain filing requirements of NI 24-101 Institutional Trade Matching and Settlement
CSA Notice regarding the SEDAR+ Launch Date and Coordinated Blanket Order 13-931 Exemptions from certain filing requirements in connection with the deferred launch of the System for Electronic Data Analysis and Retrieval +
CSA Staff Notice 45-330 Frequently Asked Questions about the Listed Issuer Financing Exemption

May 2023

Multilateral CSA Staff Notice 96-304 Derivatives Data Reporting Guidance for USD LIBOR Transition

April 2023

CSA Staff Notice 25-310 2022 Annual Activities Report on the Oversight of Self-Regulatory Organizations and Investor Protection Funds
CSA Notice and Request for Comment – Proposed Amendments to Form 58-101F1 Corporate Governance Disclosure of NI 58-101 Disclosure of Corporate Governance Practices and Proposed Changes to NP 58-201 Corporate Governance Guidelines

March 2023

CSA Notice of Repeal and Replacement of Multilateral Instrument 13-102 System Fees for SEDAR and NRD
CSA Notice of National Instrument 13-103 System for Electronic Data Analysis and Retrieval + (SEDAR+)

February 2023

CSA Staff Notice 23-330 Order Protection Rule: Market Share Threshold Effective as of April 1, 2023
CSA Staff Notice 25-309 Matters Relating to Cessation of CDOR and Expected Cessation of Bankers’ Acceptances
CSA Staff Notice 21-332 Crypto Asset Trading Platforms: Pre-Registration Undertakings Changes to Enhance Canadian Investor Protection

January 2023

CSA Staff Notice CSA Coordinated Blanket Order 51-930 Exempting Reporting Issuers Incorporated under the Canada Business Corporations Act from the Director Election Form of Proxy Requirement

December 2022

CSA Staff Notice 25-306 Activist Short Selling Update
CSA Notice of Amendments to National Instrument 45-106 Prospectus Exemptions relating to the Offering Memorandum Prospectus Exemption
Joint CSA and IIROC Staff Notice 23-329 Short Selling in Canada

November 2022

Recognition of New Self-Regulatory Organization of Canada
CSA Notice 51-364 Continuous Disclosure Review Program Activities for the fiscal years ended March 31 2022 and March 31, 2021

October 2022

CSA Multilateral Notice 58-314 Review of Disclosure Regarding Women on Boards and in Executive Officer Positions (Year 8 Report)

September 2022

ASC Notice 33-706 Policy and Procedures Manual – Reference Resource for Exempt Market Dealers (Including those with Multiple Registration Categories)

May 2022

Multilateral CSA Notice of Publication Amendments to National Instrument 94-102 Derivatives: Customer Clearing and Protection of Customer Collateral and Positions

April 2022

CSA Staff Notice 25-303 2021 CSA Annual Activities Report on the Oversight of Self-Regulatory Organizations and Investor Protection Funds
CSA Notice of Changes to Companion Policy 41-101 General Prospectus Requirements relating to Financial Statement Requirements
CSA Notice and Request for Comment Proposed Amendments and Proposed Changes to Implement an Access Equals Delivery Model for Non-Investment Fund Reporting Issuers

December 2021

Alberta Securities Commission Blanket Order 52-501 Exemption from National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure
CSA Staff Notice and Request for Comment 11-343 Proposal to Establish a CSA Investor Advisory Panel

November 2021

ASC Notice of Implementation of ASC Blanket Order 31-536 Alberta Small Business Finder’s Exemption
CSA Multilateral Staff Notice 58-313 Review of Disclosure Regarding Women on Boards and in Executive Officer Positions (Year 7 Report)

October 2021

Consultation Climate-related Disclosure Update and CSA Notice and Request for Comment Proposed National Instrument 51-107 Disclosure of Climate-related Matters

September 2021

CSA Notice and Request for Comment Proposed Amendments to National Instrument 94-102 Derivatives: Customer Clearing and Protection of Customer Collateral and Positions
Multilateral CSA Notice of Implementation Alberta and Saskatchewan Orders 45-539 Small Business Financing

August 2021

CSA Notice and Request for Comment Proposed Changes to Companion Policy 41-101 General Prospectus Requirements Related to Financial Statement Requirements
CSA Position Paper 25-404 New Self-Regulatory Organization Framework

July 2021

Amendments to NI 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and changes to 31-103CP to Enhance Protection of Older and Vulnerable Clients

June 2021

CSA Notice 31-360 Blanket Orders/Class Orders in respect of Transitional Relief Related to the Deferred Sales Charge
CSA Staff Notice 21-326 Guidance for Reporting Material Systems Incidents - Revised

May 2021

CSA Notice of Publication National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure
CSA Notice and Request for Comment Proposed Amendments to National Instrument 51-102 Continuous Disclosure Obligations and Other Amendments and Changes Relating to Annual and Interim Filings of Non-Investment Fund Reporting Issuers and Seeking
CSA Notice 94-304 Frequency of the requirement to deliver Form 94-102F3 Customer Collateral Report: Regulated Clearing Agency and Blanket Order 94-502

April 2021

CSA Notice of Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators and Companion Policy
CSA Notice and Request for Comment Proposed Amendments to NI 14-101 Definitions and Consequential Amendments
CSA Staff Notice 95-302 Margin and Collateral Requirements for Non-Centrally Cleared Derivatives

March 2021

Multilateral CSA Notice of Implementation Alberta and Saskatchewan Orders 45-538 Self-Certified Investor Prospectus Exemption
Staff Notice 21-329 Guidance for Crypto-Asset Trading Platforms: Compliance with Regulatory Requirements
CSA Multilateral Notice and Request for Comment Proposed Order 45-539 Small Business Financing
ASC Notice and Request for Comment Proposed Revocation of ASC Blanket Order 31-505 Registration Exemption for Trades in Connection with Certain Prospectus-Exempt Distributions and Replacement with Proposed ASC Blanket Order 31-536 Alberta Small Business Finder’s Exemption
CSA Staff Notice 41-307 Concerns Regarding An Issuer’s Financial Condition And The Sufficiency Of Proceeds From A Prospectus Offering (Revised)

February 2021

CSA Staff Notice 45-328 Update on Amendments relating to Syndicated Mortgages: NI 45-106 and NI 31-103
CSA Staff Notice 51-362 Staff Review of COVID-19 Disclosures and Guide for Disclosure Improvements

January 2021

ASC Notice of Proposed Repeal of ASC Rule 45-509 Offering Memorandum for Real Estate Securities

CSA Consultation Paper 21-403 Access to Real Time Market Data