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ARTICLE · 26 JUNE 2024

Alberta Securities Commission Updates ASC Notice 33-706

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Registered firms are required to maintain a detailed policy and procedures manual ("PPM") setting out their tailored compliance framework.

CanadaCorporate/Commercial Law
Jennie Baek
Jennie Baek
Sam Kelley
Sam Kelley
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On June 7, 2024, the Alberta Securities Commission ("ASC") published ASC Notice 33-706 (Revised) – Policy and Procedures Manual – Reference Resource for Exempt Market Dealers (Including Those with Multiple Registration Categories) ("Notice 33-706").

Registered firms are required to maintain a detailed policy and procedures manual ("PPM") setting out their tailored compliance framework. To help registrants draft and maintain their PPMs, the ASC regularly updates Notice 33-706 (originally published June 12, 2019, and revised December 9, 2020, September 20, 2022, and, most recently, June 7, 2024). Notice 33-706 is intended to serve two primary purposes: (1) assisting firms in keeping informed of new securities laws and guidance published during a given year, by reference to one centralized source; and (2) to therefore aid firms in their initial and ongoing drafting of PPMs.

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

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