We’ll be the first in Canada to allow it, but we expect other regulators to come along, and we think this is going to be something that takes hold in all of Canada. It’s something that I think has come along because of the rise in e-commerce. It’s become a pretty acceptable way of doing business now, to buy and sell online, and I think we’ve become much more comfortable with that marketplace
This quote comes via Dave Wild, chair of the Saskatchewan Financial and Consumer Affairs Authority, in a recent interview with The StarPhoenix. The Canadian province of Saskatchewan is on the cusp of legalizing equity crowdfunding to the tune of up to two $150,000 raises per year.
In a Crowdfund Insider interview in August, Craig Asano of the NCFA said that Saskatchewan was expected to finalize these rules in the fall of this year. Wild’s comments allude to that being the case.