Advocacy

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Our mandate: to create an independent world-renowned association that fosters a dynamic, vibrant and inclusive fintech industry in Canada and beyond.

The NCFA Canada works to reach this destination by:

  • Researching, consulting, partnering and advocating for sensible solutions to key issues that impact the crowdfunding industry
  • Educating businesses, entrepreneurs, investors, the public, media and regulatory bodies regarding fintech trends, initiatives, regulations, and emerging best practices
  • Developing strategic program initiatives that impact members and their daily interactions with the crowdfunding industry
  • Establishing a relevant and strong membership network that contributes to NCFA Canada policy and provides networking opportunities with crowdfunding professionals in the industry
  • Assisting members and the public in identifying and reporting fraud in the industry
  • Advocate the growth of a collaborative and dynamic fintech industry in Canada.

View:

Re: OSC Notice 11-780 Statement of Priorities – Request for Comment Regarding Statement of Priorities (the “SofP”) for Financial Year to End March 31, 2019 on Mar 28, 2018

NCFA Canada’s submission to Finance Canada (March 2018): Urgent Need for Regulatory Change and Government Support on Mar 15, 2018

NCFA Submission to Ontario Ministry of Finance: Urgent Need for Regulatory Change on Nov 4, 2017

NCFA Response to ASC Request for comments 45-108 on Sep 9, 2018

OPEN LETTER: Lifting the Veil on Peer-to-Peer Lending in Canada on March 30, 2016

NCFA Canada Response to Russell’s Call to Dispense with Equity Crowdfunding on Jan 15, 2016

NCFA Canada Response to the Proposed Multilateral Instrument 45-108 Crowdfunding on June 18, 2014

NCFA Canada Response to the Proposed Multilateral Instrument 45-108 Crowdfunding and Start-Up Prospectus Exemption on June 18, 2014

NCFA Canada Response to British Columbia Notice 2014/03 – Proposed Start-Up Crowdfunding Exemption on June 18, 2014

Canada’s National Crowdfunding Association Applauds Regulators for Setting the Stage for Crowdfunding Success on March 24, 2014

Let’s protect investors from risky startups: NCFA Canada response on December 11, 2013

NCFA Canada Response to FCAA (Nov 6, 2013): Consultation on General Order 45-925 on November 6, 2013

Dispelling Myths #5 and #6: “Extraordinary popular delusions and the madness of crowdfunding” by NCFA Canada on August 18, 2013

Dispelling Myths #3 and #4: “Extraordinary popular delusions and the madness of crowdfunding” by NCFA Canada on August 8, 2013

Dispelling Myths #1 and #2: “Extraordinary popular delusions and the madness of crowdfunding” by NCFA Canada on August 3, 2013

NCFA Canada: Equity Crowdfunding Principles & Response to OSC Staff Consultation Paper 45-710 on March 9, 2013

 

The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada crowdfunding hub providing education, advocacy and networking opportunities in the rapidly evolving crowdfunding industry. NCFA Canada is a community-based, membership-driven entity that was formed at the grass roots level to fill a national need in the market place. Join our growing network of industry stakeholders, fundraisers and investors. Increase your organization’s profile and gain access to a dynamic group of industry front runners. Learn more eBrochure |Prezi or contact us at casano@ncfacanada.org.

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Globe and Mail | Darren Campbell | July 29, 2018 Richard Cochrane thinks he has the solution for a problem that has plagued First Nations online shoppers since the start of the digital age. That solution is his fintech startup, Status Exempt. The 29-year-old entrepreneur has developed a service and plugin for Shopify Inc.’s e-commerce platform that allows First Nations people to shop online without being charged the harmonized sales tax (HST), provincial sales tax or goods-and-services tax. First Nations people who buy items online and have them shipped to a reserve are exempt from these taxes on purchases. But Mr. Cochrane says most retailers do not have an online process that takes the taxes off immediately. First Nations shoppers must submit their receipts to a provincial ministry of finance or the Canada Revenue Agency to get a refund, which Mr. Cochrane says can take up to 90 days to arrive. “I’m thinking about 500,000 First Nations live in rural areas,” Mr. Cochrane says. “They don’t have access to Canadian Tire or Walmart. Almost their entire wallet will be spent online or through catalogues. This is one of the few interactions outside their reserve, and this is how they are ...
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Fintech startup looks to expedite tax-free shopping online for First Nations
Georgia Straight | Kate Wilson | Aug 15, 2018 On the morning of October 29, 2013, a Waves coffee shop in downtown Vancouver had an unprecedented number of visitors. Regular customers at the Howe and Smithe streets location jostled for space with national journalists, all wielding tape recorders and cameras in an attempt to get an interview with those standing in front of a bulky, one-and-a-half-metre-tall, blue-and-white machine. The kiosk was the world’s first bitcoin ATM, and this was its opening day of trading. The machine lived up to the hype. By the end of the week, it had exchanged more than $100,000 worth of the virtual currency. That enthusiasm reflected a fervour for bitcoin that had been quietly growing in Vancouver since its inception in 2008. Knowledge of the cryptocurrency started small. In the wake of the global financial crisis, a mysterious individual or group authored a paper under the pseudonym Satoshi Nakamoto, titled "Bitcoin—A Peer to Peer Electronic Cash System”. Posting the document on a mailing list dedicated to cryptography, “Nakamoto” laid the groundwork for the software to become publicly available in 2009. Soon after, Vancouverites began meeting to discuss the idea’s implications. Early conversations whispered that bitcoin could ...
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Why blockchain technology is flourishing in Metro Vancouver—and how it will change your life
NCFA Canada | Craig Asano | Aug 17, 2018 FINTECH FRIDAY$ (ep.5):   First Coins M&A Story:  Wall street meets Crypto About this episode:  show host Manseeb Khan sits down with Frans Tjallingii, Managing Director, Galaxy Digital Canada (ex-CEO and Co-founder of First Coin Capital). They talk about their acquisition and where the future of blockchain is heading and how tokens could be used as securities and Galaxy Digital Canada's plan moving forward. Enjoy! Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: Frans Tjallingii, Managing Director, Galaxy Digital Canada Frans was the Co-founder and CEO of First Coin Capital, a full service advisory and technology firm for the digital capital markets that recently integrated with Galaxy Digital (TSX.V: GLXY). Galaxy Digital is led by early bitcoin investor, and former Goldman Sachs and Fortress Partner Mike Novogratz and is a leader in the cryptocurrency space.  Frans has extensive corporate strategy, turnaround and investment analysis experience and has been involved in start-ups since 2014. Join NCFA's weekly Podcast series 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges! Subscribe and tune in each Friday to check out ...
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FINTECH FRIDAY$ (ep.5): First Coin Capital's M&A Story with Frans Tjallingii, MD Galaxy Digital Canada
FCA Regulatory Sanbox | Aug 8, 2018 Find out about the 29 businesses that have been accepted into cohort 4 of the regulatory sandbox to test innovative products, services, business models and delivery mechanisms. We received 69 applications for cohort 4 of the regulatory sandbox. Applications came from a diverse range of firms operating across the financial services sector including in areas such as consumer credit, automated advice and insurance. 29 firms have been accepted to develop towards testing, including 3 firms that were accepted as part of previous cohorts but did not proceed to test. Firms that have been accepted to develop towards testing are listed below, except for one firm that has asked not to be named at this point in time. See:  Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators We have accepted a number of firms that will be testing propositions relating to cryptoassets. We are keen to explore whether, in a controlled environment, consumer benefits can be delivered while effectively managing the associated risks. Tests will be conducted on a short-term and small-scale basis and the FCA is working with each firm to agree testing parameters and ...
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FCA Regulatory sandbox participants - Cohort 4
Progressa Release | Aug 14, 2018 TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Progressa, a Vancouver and Toronto based financial technology company, announced today it has successfully closed an $84 million equity and loan funding round. The equity financing was co-led by Canaccord Genuity Corp. and Gravitas Securities Inc. and included Eight Capital and Paradigm Capital as part of the syndicate. The equity capital allows Progressa to unlock a new forward-flow whole loan purchasing program for up to $72 million, with Vancouver-based credit fund Cypress Hills Partners. The equity financing was largely supported by the Canadian investment banks who see the potential for Progressa to complete a go-public transaction (“IPO”) before the end of 2019. Ali Pourdad, Progressa’s co-founder and CEO, commented, “Progressa is proud to have developed first-to-market technology solutions for the Canadian non-prime credit consumer market. Today’s enterprise business partners are utilizing the Company’s Powered by Progressa solutions to improve their customer experience, while enhancing collections recoveries and mitigating significant risk, a true win for both enterprise and Canadian consumers. We are pleased with this broad level of support from Canadian investment banks who see that Progressa is making a positive difference in the lives of Canadians.” See:  ...
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Progressa Closes $84 Million Funding Round Co-Led by Canaccord Genuity and Gravitas Securities, Supporting Record Growth
CNBC Markets | Kate Rooney  | Jul 24, 2018 Fintech company Square is boosting its small-business lending with an eBay partnership. Square Capital, the lending arm of the payment start-up, will be available to eBay sellers looking to expand their business operations. Starting in the third quarter, merchants on the site can apply for a loan as small as $500 and up to $100,000 to help with everything from payroll and inventory to equipment and marketing, the companies announced Tuesday. Square Capital’s focus since launching in 2014 has been on those businesses historically excluded from the larger financial system. The partnership will offer access to capital for those who have been “underserved when seeking funding” and give U.S. sellers a "seamless funding experience," said Jacqueline Reses, head of Square Capital. See:  What we can learn from Ontario’s $3 million loan to small business Lending Loop Surpasses $10M in Loans to Small Businesses Across Canada Small-business lending is an increasingly competitive area in fintech. PayPal, which was once a part of eBay, has a program called Working Capital and provides loans to merchants based on sales history. Amazon also does this for sellers, and began extending credit to small business owners ...
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Square partners with eBay to expand lending for 'underserved' small businesses
CBC | Rob Antle  | Aug 6, 2018 Agency wants to make sure tax laws are being followed When Ottawa looks at cryptocurrencies like bitcoin, it sees problems. Bitcoin can be difficult to track, and there is the potential for "tax noncompliance" through unreported or under-reported income and capital gains. The Canada Revenue Agency "wants to understand how bitcoin and other cryptocurrencies operate in the traditional economic space to ensure that tax laws are being followed," CRA spokesperson Etienne Biram said in an emailed statement. "It is important to note that using digital currency does not exempt consumers from Canadian tax obligations." So CRA commissioned research on businesses that installed bitcoin automated tellers on their premises. A bitcoin ATM is not actually an ATM; it doesn't provide a connection to a customer's bank account. Rather, it's an internet-linked terminal that allows people to buy and sell bitcoins. See:  Learn about crypto payments - Fintech Fridays Podcast: ep1 with Samir Bandali of CoinPayments According to the study that followed — which surveyed 20 businesses — the taxman wanted to understand why a business would install a bitcoin ATM, along with "the perceived value it brings to businesses and their customers, and attitudes towards tax compliance in the ...
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CRA surveyed businesses to find out why they're taking bitcoin ATMs
NCFA Canada | Craig Asano | Aug 10, 2018 We're excited to announce a new NCFA Podcast series called 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges! FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Nets Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: Amy Wan, Founder & CEO, Sagewise About this episode: On this episode, our host Manseeb Khan sits down with LA legal tech entrepreneur Amy Wan, the CEO/Founder of Sagewise, a smart contracts dispute resolution startup. They talk about why smart contact safety nets are important, the bridge between legal tech and fintech and how Amy closed out her seed round while being pregnant. Enjoy! Subscribe to the channel and tune in each Friday to check out the latest movers and shakers in fintech. Listen to more Fintech Fridays podcasts here Transcription of Interview Manseeb Khan: Hey Everybody Manseeb Khan and you are tuning in to NCFA newest show Fintech Fridays. Today we have an amazing guest. She's a rock star in the industry. Ladies and gentlemen. Amy Wan is with us today. She's the CEO of Sagewise Amy thanks so ...
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FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Net with Amy Wan, CEO & Founder at Sagewise
University of Cambridge and Ivey Business School | by Tania Ziegler and Michael King | Aug 8, 2018 The 2018 Americas survey of alternative finance conducted the University of Cambridge Centre for Alternative Finance is nearing its closing stages. This global survey of crowdfunding and lending via online platforms is the benchmark for the industry, providing the most comprehensive data on this fintech activity.  In Canada, Cambridge is being assisted by their research partners and the Scotiabank Digital Banking Lab at Ivey Business School.  NCFA is a supportive community partner. Leading platforms should have received an email with details on how to complete the survey from either Tania Ziegler at University of Cambridge or Professor Michael King at Ivey. It is vital that platforms participate in order to demonstrate the importance of this sector to Canadians and to policymakers at the federal and provincial levels. King says, “As we look ahead to the completion of the Federal Financal Sector Review early in 2019, this data will be vital for promoting open banking and other initiatives that support Canada’s fintech sector. When platforms opt out, they are effectively telling policymakers that alternative finance is not important and not worthy of the ...
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Cambridge Survey of Alternative Finance Needs Your Participation!
Fortune | Matt Harris | Aug 8, 2018 Matt Harris is a managing director at Bain Capital Ventures. He is consistently ranked as one of the top investors in fintech, having participated in the space since 2000. I’ve been proven wrong once again. For eight years running, I’ve predicted that fintech investment is going to plateau. Based on the start of 2018, it hasn’t yet. In fact, we saw more than $5.4 billion invested in fintech during the first quarter of the year, with no signs of slowing momentum. For perspective, fintech investment for all of 2014 was just under $4 billion, so that’s “5x” growth in four years. In 2001, per data from Venture Scanner, it was something like $300 million. With that said, this whole “fintech” thing is kind of a charade. As I shared with attendees last month during our annual Fintech CEO Summit, co-hosted together with Nyca Partners, the CEOs in our portfolios don’t actually run “fintech businesses.” They run a payments business or a lending business, or they build investing technologies, or they sell to banks or insurance or real estate companies. Regardless of what VCs tell limited partners, or how media cover the industry, ...
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Fintech Frenzy: Hype or Reality? A Closer Look at 6 Key Sectors

 

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