Tagged: osc

Equity Crowdfunding Alliance of Canada Hosts Standing Room Only Event

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As part of a scheduled series of cross country events designed to spread the gospel of crowdfunding, the Equity Crowdfunding Alliance of Canada (ECFA Canada) hosted their inaugural conference in the financial district of Toronto to a packed crowd.  Tickets quickly sold out for the popular gathering as many of the big names in Canadian… Read More

Ontario Proposes New Rules for Crowdfunding

Canada Loonie

In a release issued by the Ontario Securities Commission (OSC), the regulatory body for the Ontario’s capital markets.  A 90 day public comment period starts for four new exemptions.  These exemptions are intended to facilitate capital raising by businesses at different stages in their development, while maintaining an appropriate level of investor protection.  Crowdfunding will… Read More

#Crowdfunding News Roundup: December 6, 2013

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CNN Money | How IBM bypasses bureaucratic purgatory IBM has an in-house crowdfunding platform that they use to allow employees to vet and evaluate their colleagues’ ideas. It’s an effort to “improve the way we do things internally” according to the head of IBM’s CIO Lab Francoise LeGoues. Palatinate | Students turn to ‘crowdfunding’ to… Read More

Ontario Securities Commission Provides Update on Crowdfunding

Canada Equity Crowdfunding

Objective is to Modernize Exempt Market Regulations, Facilitate Capital Raising for Startups. The Ontario Securities Commission (OSC) has announced they intend on publishing in the  first quarter of 2014 the following new capital raising prospectus exemptions for a 90-day public comment period: Offering memorandum exemption, Family, friends and business associates exemption, Existing security holder exemption,… Read More

Canadian Impact Investing Platform SVX Launches in Toronto

MARS SVX

Impact investing crowdfunding platform Social Venture Connexion (SVX) rang the bell last week on the Toronto Stock Exchange, thus officially launching their new platform.  The Ontario Securities Commission had issued an “exemptive relief order” earlier this year to allow the non-profit entity SVX to sell securities via their crowdfunding platform.   The platform is designed… Read More

Ontario Securities Commission Announces Next Steps in Crowdfunding Review

CN Tower Toronto Canada

The Ontario Securities Commission (OSC) today published OSC Notice 45-712 Progress Report on Review of Prospectus Exemptions to Facilitate Capital Raising, which sets out the next steps in the OSC’s exempt market review and consideration of four prospectus exemptions. The objective of this work is to facilitate capital raising for start-ups and small and medium-sized enterprises (SMEs)… Read More

Crowdfunding in Canada; An Interview with Craig Asano, Leader of NCFA Canada

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Our neighbors to the North while much smaller in population have already established a vibrant crowdfunding scene.  With over 45% of the entire Canadian workforce employed in small business driving 28% of Canada’s GDP, it is clear that the importance of fostering a positive environment for entrepreneurs is vital for the Canadian economy. Venture capital… Read More

Ontario Securities Commission Approves Crowdfunding for Accredited Investors For Specific Platform

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The Ontario Securities Commission (OSC) has approved crowdfunding in Ontario for accredited investors.  The OSC has announced an “exemptive relief order” which will permit the sales of securities via crowdfunding platforms.  This order pertains to a specific non-profit entity called Social Venture Connexion (MaRs SVX), located in Toronto, which is dedicated to assisting entrepreneurs.  The… Read More

OSC Gets Positive Response to Crowdfunding Ideas – Report

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The Ontario Securities Commission (OSC)’s recent consultation on crowdfunding options received “favourable comments” reports law firm Osler Hoskin & Harcourt. Osler noted 100 responses to the OSC, most of which supported its crowdfunding exemption proposal, though some had concerns about investor-protection issues. With respect to crowdfunding’s role in small business financing, feedback identified a “gap”… Read More

OSC To Host Roundtable On Small Business Investment

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The OSC will hold a roundtable on June 11, 2013 to discuss ways investors can help start-ups and small businesses raise money in Canada. It wants to consider how companies can do this by issuing securities without first having to prepare and file a prospectus. For example, one of the options being suggested by the… Read More

The Canadian Foundation for Advancement of Investor Rights (FAIR) Opposes Equity Crowdfunding

FAIR Canada

The Canadian Foundation for Advancement of Investor Rights (FAIR) has submitted comments to the OSC on its exempt market review, opposing the proposed equity crowdfunding exemption and offering memorandum exemption concepts. Crowdfunding and the OM exemption will undermine investor protection, make markets less efficient, undermine investor confidence in markets and ultimately result in less “real” capital… Read More

Ontario Securities Commission may allow crowdfunding for some businesses

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Social media wants to meet up with corporate finance on the Internet to let startup and small businesses raise money online. It’s called equity crowdfunding — different from Kickstarter which funds creative projects like movies, games or music and — because it would give these online investors shares in a company. CEO and president Chad… Read More

Interactive Ontario Urges Action on Crowdfunding Approval

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In comments filed with the Ontario Securities Commission (OSC), Interactive Ontario (IO) has urged the OSC to quickly approve proposed prospectus exemptions for crowdfunding capital. IO supports these exemptions as a means to increasing the available pool of capital for Ontario digital media companies.  IO believes acting prior to full implementation of the Jobs Act… Read More

Crowdfunding exemption would kickstart digital media companies

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Interactive Ontario (IO) is urging the Ontario Securities Commission (OSC) to approve proposed exemptions for raising capital in the province via crowdfunding. IO says it supports the exemptions as a means to increasing the available pool of capital for Canadian digital media companies. Crowdfunding empowers creators to raise public funds by publicizing their project using… Read More

Internet Crowdfunding Changing Film Finance

Inocente Oscar

The movie Argo might have picked up the biggest prize in last week’s Academy Awards ceremony, but it was the Best Documentary Short winner that had many on the Internet buzzing. Inocente, a film about a 15-year old homeless girl who dreams of becoming an artist, took home the Oscar, and in the process became… Read More

OCE Weighs In On Crowdfunding

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OCE has weighed in on crowdfunding, a new way to solicit investments for innovative ideas and projects through social media that is gaining momentum in the United States and the UK. Responding to a call for submission from the Ontario Securities Commission (OSC), OCE recommends allowing crowdfunding as long as a limit is imposed on… Read More

Canada: The OSC Examines Four New Capital Raising Prospectus Exemptions

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On December 14, 2012, the OSC released OSC Staff Consultation Paper 45-710 – Considerations for New Capital Raising Prospectus Exemptions (the “OSC Paper”)1 which examines four ideas for potential capital raising prospectus exemptions; crowdfunding, an offering memorandum exemption for Ontario, and exemptions for sophisticated investors and investors that have received advice from investment dealers. The OSC… Read More

Ontario Securities Commission Schedules Sessions on Crowdfunding

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As part of Ontario’s ongoing deliberations on their path to facilitating crowdfunding the Ontario Securities Commission a series of meetings.  These have been scheduled to discuss the merits and challenges specifically associated with crowdfunding. Staff of the Ontario Securities Commission (OSC) invite you to attend a consultation session in connection with the OSC’s exempt market… Read More

Ontario Securities Commission (OSC) Explores New Capital Raising Prospectus Exemptions

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OSC consults on possible new prospectus exemptions to broaden access to the exempt market Four “concept ideas” considered: crowdfunding, an offering memorandum exemption for Ontario, and two exemptions based on investor sophistication or advice Dealer or adviser registration considered for funding portals The Ontario Securities Commission has released a broad consultation paper, OSC Staff Consultation Paper 45-710… Read More