The Alberta Securities Commission reports that proposed standards of disclosure for oil and gas activities are getting closer to national approval.

On June 23, the ASC advised that it had approved National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. On July 18, it reported that the rule had also received approval from the securities commissions in British Columbia, Ontario, and Saskatchewan, but that ministerial approval was still required. Ministerial approval has now been received in those jurisdictions, it says.

The ASC adds that the rule has now also been approved by the securities commission in Nova Scotia (subject to ministerial approval). It will be considered by the securities commission in Quebec on September 30.

With approvals proceeding in the various jurisdictions, the regulators are publishing a Canadian Securities Administrators Notice of Implementation.