Canada: Ontario Minister Joins Crowd In Push For Crowdfunding Exemption

Ontario Minister Brad DuguidAt the recent Technicity conference in Toronto, Brad Duguid, Ontario’s Minister of Economic Development and Innovation, expressed support for introducing equity crowdfunding in Ontario.  Recognizing the need to keep innovators on the north side of the border, Minister Duguid explained that “it’s really important that Ontario keep pace if not even try to get out in front [of the US] if we can do that in a way that ensures protection for consumers and investors.”

Canadian proponents of crowdfunding have encouraged our regulators to adopt crowdfunding measures introduced in the U.S. in the Jumpstart Our Business Startups Act (the JOBS Act). The JOBS Act was ratified in April 2012. After some delay, the crowdfunding provisions of the JOBS Act are currently expected to come into force some time in mid-2013.

Equity crowdfunding allows early stage companies to issue securities to investors in return for an equity stake.

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