Effective July 1, 2015, orders issued by and settlement agreements entered into with a Canadian securities regulatory authority will automatically be effective in Alberta.

Pursuant to a new section 198.1 of the Alberta Securities Act, when a securities regulatory authority in Canada issues an order or enters into a settlement agreement that imposes sanctions, conditions, restrictions or requirements on a person or company, that order or settlement agreement will automatically apply in Alberta.  No further notice to the affected persons is provided and no hearing will be held.  Any changes to the original order or agreement also apply in Alberta.  Orders issued by and settlement agreements entered into by international securities regulators may still be recognized in Alberta only by an order of the ASC.

For further information, see ASC Notice 15-701 Automatic Reciprocation in Alberta of an Order Issued by, or Agreement with, a Securities Regulatory Authority in Canada.