ASC publishes updated companion policy for ASC Rule 45-517
Oct 03, 2017
On October 3, 2017, the Alberta Securities Commission (ASC) announced changes to Companion Policy 45-517 "Prospectus Exemption for Start-up Businesses," effective immediately. The changes provide guidance for Alberta-based issuers seeking to raise funds from investors resident in either Alberta or British Columbia (B.C.) under ASC Rule 45-517 Prospectus Exemption for Start-up Businesses.
To facilitate small, local financings by Alberta-based start-up businesses, the ASC adopted ASC Rule 45-517 in the summer of 2016. In response to the recently announced amendments to B.C. Instrument 45-535 Start-up Crowdfunding Registration and Prospectus Exemptions, the ASC has updated its Companion Policy 45-517 to clarify how cross-border financings into B.C. are possible and outline how ASC Rule 45-517 and B.C. Instrument 45-535 work together.
Review the press release on the ASC's website.