ASC adopts Start-up Crowdfunding Blanket Order

ASC | Denise Weeres | Oct 2, 2019

ASC Alberta Securities Commission - ASC adopts Start-up Crowdfunding Blanket OrderCALGARY – 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 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.

Source:  ASC News Release

See:  Sep 22, 2019: NCFA Response to ASC Consultation Paper 11-701: Energizing Alberta’s Capital Market

 


NCFA Jan 2018 resize - ASC adopts Start-up Crowdfunding Blanket Order The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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