Category Archives: Legal Issues and Regulation

The 2017 State of Regulation Crowdfunding: US Securities-based Crowdfunding under Title III of the JOBS Act

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CrowdfundInsider | By  | Jan 15, 208

Recently, my company crafted a report for the US Securities and Exchange Commission that summarizes progress on Title III of the JOBS Act of 2012, also referred to Regulation Crowdfunding or Reg CF. This newest securities exemption was added to the options that smaller companies could utilize to raise both debt and equity capital within the US.

Regulation Crowdfunding allows startups and SMEs to raise up to $1,070,000 per year from both retail and accredited investors by utilizing registered funding portals (or broker-dealers) to conduct exempt offerings online. At the end of 2017, there were 36 FINRA approved crowdfunding portals.

This exemption requires issuers to file in a Form C and post online disclosures about a company’s operations, team, financials and other material information for investors to review. Regulation Crowdfunding started in the United States on May 16, 2016. The second calendar year for the industry ended on December 31, 2017. Because data about issuers, their financial well-being, and the capital that is committed is public information we can analyze the data and bring transparency to a segment of the markets (exempt private offerings) that has been fairly opaque until the JOBS Act went into effect.

See Also: SEC Updates JOBS Act Amendments Including Reg CF Funding Cap

Key findings of our report:

  • The number of unique offerings increased 267% from 178 in 2016 to 481 in 2017
  • Proceeds increased 178% from $27.6 million in 2016 to $49.2 million in 2017. Total proceeds by the end of 2017 was $76.8 million
  • The number of successful offerings increased 202% from 99 in 2016 to 200 in 2017
  • The average success rate of offerings to date is 66.7%
  • The total number of investors in Regulation Crowdfunding increased 158% from 28,180 in 2016 to 44,433 in 2017
  • Issuers that filed annual reports and reported creating jobs created on average 13.9 jobs.
  • Revenues for Issuers that filed annual reports increased on average 131% between the year in which they leveraged Regulation Crowdfunding and the Prior Fiscal Year.

Continue to the full article --> here

 


The National Crowdfunding Association of Canada (NCFA Canada) is a national non-profit actively engaged with social and investment crowdfunding, alternative finance, fintech, peer-to-peer (P2P), initial coin offerings (ICO), and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, networking opportunities and services to thousands of community members and works closely with industry, government, academia and eco-system partners and affiliates to create a vibrant and innovative fintech and online financing industry in Canada.  For more information, please visit: www.ncfacanada.org

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Saskatchewan and Alberta make cross-border financing easier

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Alberta Securities Commission | Dec 12, 2017

CALGARY, Dec. 12, 2017 /CNW/ - The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) has changed its start-up crowdfunding exemption to allow businesses in Saskatchewan and Alberta to raise funds from investors residing in those provinces.

"This change will enhance capital raising opportunities for businesses in Saskatchewan and Alberta and investment opportunities for investors in those provinces. Given the geographical proximity, and similarities in industries, it makes sense for us to coordinate our efforts to facilitate cross-border financings with our neighbouring provinces," said FCAA CEO Roger Sobotkiewicz.

To allow for the interjurisdictional raising of capital, Saskatchewan has amended General Order 45-929 Start-up Crowdfunding Registration and Prospectus Exemptions (SK GO 45-929), and Alberta has changed the Companion Policy to Alberta Securities Commission (ASC) Rule 45-517 to clarify how cross-border financings will work.

See:  Advancing the dialogue on the future of financial services

Start-ups and early stage businesses must be aware of the different requirements in each jurisdiction and comply with the requirements of both SK GO 45-929 and ASC Rule 45-517. One significant difference between the two exemptions is that to raise money through a crowdfunding portal in Alberta, businesses must use a registered dealer. In Saskatchewan businesses must use an online funding portal, which is not required to be operated by a registered dealer.

For more information about SK GO 45-929 visit http://www.fcaa.gov.sk.ca/Exemption-Order-45-929. The ASC Rule 45-517 can be found on the ASC website at albertasecurities.com.

The FCAA is a crown corporation responsible for developing and enforcing Saskatchewan securities laws, which regulate Saskatchewan capital markets and protect investors. The ASC is the regulatory authority responsible for administering Alberta's securities laws. The ASC is entrusted to foster a fair and efficient capital market in Alberta and to protect investors.

As members of the Canadian Securities Administrators, the FCAA and ASC work to improve, coordinate and harmonize the regulation of Canada's capital markets.

SOURCE Alberta Securities Commission

For further information: For Media Inquiries: Matthew Barton, Financial and Consumer Affairs Authority Saskatchewan, Communications Consultant, 306-787-6067; Hilary McMeekin, Alberta Securities Commission, Manager, Communications, 403.592.8186; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488


The National Crowdfunding Association of Canada (NCFA Canada) is a national non-profit actively engaged with social and investment crowdfunding, alternative finance, fintech, peer-to-peer (P2P), initial coin offerings (ICO), and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, networking opportunities and services to thousands of community members and works closely with industry, government, academia and eco-system partners and affiliates to create a vibrant and innovative fintech and online financing industry in Canada.  For more information, please visit: www.ncfacanada.org

 

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Self-regulation: Is it time?

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NCFA Canada | Robin Ford, Advisory Group | 12 Jan 2018

 

The problem

A.  NCFA’s objective for regulation is that it should cost-effectively support (or not unduly inhibit) a competitive and vibrant crowdfunding regime and fintech industry in Canada that provides enhanced access to capital and investment opportunities and is worthy of  investor confidence.

B.  However well-intentioned, the current regulatory regime is inhibiting innovation and competition in Canada (although other factors are also in play). Please see the most recent NCFA submission to Ontario Ministry of Finance: ‘Urgent Need for Regulatory Change’ or the Competition Bureau's market study report titled ‘Advancing the Dialogue on the Future of Financial Services’.

C.  Detailed, prescriptive regimes can cause harm by (among other things): (1) not providing the right incentives for businesses to take responsibility for managing themselves well and treating customers fairly, and (2) distracting senior management and boards from focusing on essential governance improvements, strategic planning, policy and process improvements, fundraising, marketing, etc.

D.  NCFA has argued that the regulatory environment in Canada must change so fintechs, and start-ups generally, may enter the market, grow, and thrive. But supportive regulation is not enough.   Businesses must do more to bridge the gap between starting up, scaling up and maturing.  This is especially true if regulation does not focus on the right things.

E.  So - what can platforms and issuers (and prospective issuers) do, besides continuing to lobby for regulatory change? Answer - quite a bit. This brief post aims to start a conversation about self-regulation and the “right things”.

 

Self-regulation

  1. Self-regulation can be defined as: “regulating (i.e, controlling or governing conduct) without intervention from external bodies”. Self-regulation includes written or unwritten internal policies and procedures (specific to a business) and may extend to regulation by an IIROC-type self-regulatory organization (Investment Industry Regulatory Organization of Canada).

  1. While the NCFA has no particular outcome in mind at this stage, we think most would agree that:

(1) as industries or businesses grow and mature, self-regulation becomes more important and must itself mature;

(2) good self-regulation can enhance the profitability and growth of businesses or sectors by reassuring and educating investors and clients/customers (building knowledge and trust), by improving and aligning business processes (for greater cost effectiveness), by helping to attract and keep employees and so on.

 

  1. There is another benefit.

“As regulators start to develop their own measures for setting and enforcing cultural norms there is a clear advantage for boards who can get ahead of this trend and demonstrate leadership in setting a culture that is strategically effective as well as meeting the lowest common denominator of regulatory acceptability. Companies with strong cultures that support their strategic aims will outperform those with weak or unaligned cultures.” - https://www.linkedin.com/pulse/why-culture-issue-board-julie-garland-mclellan/

Appropriate and effective self-regulation can also help to persuade an external regulator that the businesses being regulated pose a lower risk to its regulatory objectives. If so, supervision may be less intense and specific requirements may be less constraining. It can also help to shift the regulatory approach to one that is more principles based and outcomes focused, and to matters (the “right things”) that are arguably more important for the achievement of regulatory objectives than many of the prescriptive requirements that businesses in Canada now face (and not just from capital markets regulators).

See:  Fintech Regulation: Achieving the right balance to foster innovation

What outcomes should businesses be aiming for? There are several questions to ask:

(1) Our starting point is the UK Financial Conduct Authority's principles for businesses. Capital markets regulators in Canada tend not to require or focus on  these principles, but for UK regulators they are almost always the first priority.  Indeed, the regulatory approach of the FCA (and the FSA before it) has ensured that the principles have become not only the priority  for the capital markets regulators, but also for the regulated firms.

In the UK, regulated firms must be able to demonstrate to the FCA at all times that they meet the principles for businesses, which are:

  1. Integrity: a firm must conduct its business with integrity.
  2. Skill, care and diligence: a firm must conduct its business with due skill, care and diligence.
  3. Management and control: a firm must take reasonable care to organize and control its affairs responsibly and effectively, with adequate risk management systems [and, in particular - robust governance arrangements, a skilled and knowledgeable staff, and adequate record-keeping].
  4. Financial prudence: a firm must maintain adequate financial resources.
  5. Market conduct: a firm must observe proper standards of market conduct.
  6. Customers’ interests: a firm must pay due regard to the interests of its customers and treat them fairly.
  7. Communications with clients: a firm must pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading.
  8. Conflicts of interest: a firm must manage conflicts of interest fairly, both between itself and its customers and between a customer and another client.
  9. Customers relationships of trust: a firm must take reasonable care to ensure the suitability of its advice and discretionary decisions for any customer who is entitled to rely on its judgment.
  10. Clients’ assets: a firm must arrange adequate protection for clients’ assets when it is responsible for them.
  11. Relations with regulators: a firm must deal with its regulators in an open and cooperative way, and must disclose to the appropriate regulator any thing relating to the firm of which that regulator would reasonably expect notice.

 

We suggest that every business, regardless of regulatory requirements, should be able to make a clear, positive statement to its stakeholders about what it is doing to comply with these principles. 

Since regulation should be proportionate and reflect the nature, scale and complexity of the business (and the risk the activity may pose to consumers), each business will comply with the principles in a different way and will ramp up or change its internal standards and compliance as it grows and matures. At the same time, self-regulation should align with (and perhaps support) external regulation.

See:  The ICO Governance Deficit

(2) Better self-regulation for which sectors in particular? - portals, fintech, DLT, cryptocurrencies, start-ups, ICOs? What are the areas in greatest need of improved self-regulation (for either business improvement or greater trust or both)?

(3) What principles for businesses matter the most right now? For example, should we focus on standards of market conduct?  If so, then (as a first step) a code of market conduct might be suitable. If so, should it be an industry code of conduct that businesses can sign up to? How should it be enforced? Would the code of conduct  be worth the paper it is written on if there is no independent and transparent supervision?  Or would regular reporting by the businesses using the code be sufficient to persuade stakeholders that it is adding value?

(4) How should we take this discussion forward (if at all)?  What role could NCFA play - leader, issuer of guidance, educator?   What other organizations should be involved with this collaborative domestic/- global community effort?

We’d love to hear your views!

Please let us know what you think by email to info@ncfacanada.org by January 19, 2018.

 


The National Crowdfunding Association of Canada (NCFA Canada) is a national non-profit actively engaged with social and investment crowdfunding, alternative finance, fintech, peer-to-peer (P2P), initial coin offerings (ICO), and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, networking opportunities and services to thousands of community members and works closely with industry, government, academia and eco-system partners and affiliates to create a vibrant and innovative fintech and online financing industry in Canada.  For more information, please visit: www.ncfacanada.org

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Competition Bureau weighs in on fintech: urgent action required

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TheGlobeandMail | Jeffrey Graham | Jan 3, 2018

For several decades, federal policy makers have been attempting to create more competition in our financial-services environment. Initiatives to facilitate the creation of additional domestic banks, provision of greater flexibility for foreign banks to choose forms of establishment and, more recently, allowing provincial credit unions to convert and become national co-operative banking institutions, have not really made much of a difference. Our large and highly respected major financial institutions continue to dominate.

The Canadian Competition Bureau has released its final market study report into technology-led innovation in Canada's financial-services sector. The study is a valuable addition to a growing body of analysis and evidence that we need to do more to ensure that Canada is not left behind, as fintech has the potential to make an increasingly important impact on the availability and delivery of financial services to Canadians.

In its study, the Bureau notes that since the 2007-08 global financial crisis, a new wave of financial-services firms has emerged, leveraging the latest technologies. In a number of jurisdictions, these firms are helping to reshape their domestic financial-services sectors and, in some cases, the leading firms are becoming national champions with global reach. The bureau notes that Canada lags behind its peers in fintech adoption; a number of reasons for slow adoption are suggested, including regulatory and non-regulatory barriers. The study makes a number of important recommendations to financial-sector regulators and policy makers focused on retail payments and the retail payments system, lending and equity crowdfunding, and investment dealing and advice.

Could it be that fintech could actually address the long-standing challenge of creating more competition in domestic financial services? Will the bureau recommendations, if adopted, make a positive impact in achieving that objective?

Continue to the full article --> here

 

The National Crowdfunding Association of Canada (NCFA Canada) is a national non-profit actively engaged with social and investment crowdfunding, alternative finance, fintech, peer-to-peer (P2P), initial coin offerings (ICO), and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, networking opportunities and services to thousands of community members and works closely with industry, government, academia and eco-system partners and affiliates to create a vibrant and innovative fintech and online financing industry in Canada.  For more information, please visit: www.ncfacanada.org

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Nov 20, 2017: NCFA Canada Welcomes Competition Bureau’s recommendations to encourage competition and innovation in Canada’s financial services sector

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NCFA Canada | Robin Ford | Nov 20, 2017

Competition Bureau request for public comments on draft study:  Technology-led innovation and emerging services in the Canadian financial services sector

The Competition Bureau recently announced a draft report and issued a request for public consultation regarding technology-led innovation and emerging services in the Canadian financial services sector.  The consultation took place between November 6 and November 20, 2017 (11:59 pm Pacific time). and interested parties including NCFA Canada were invited to provide their feedback on the draft report no later than November 20, 2017.

Visit this link to learn more about the Competition Bureau and the scope and the premise of the study/report:  http://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/04315.html

NCFA Canada's submitted response:

  1. NCFA welcomes this report and its recommendations to encourage competition and innovation in Canada’s financial services sector.
  2. We agree that " competition is good for both business and consumers—and regulation should be minimally intrusive on market forces". We also agree that SMEs "are key drivers of economic growth—and their success is crucial to Canada's long‑term prosperity".
  3. We agree with the barriers to entry listed in the draft report (paragraphs in the report are not numbered) but would add to the list: inadequate incentives and assistance by governments, public funders, and regulators compared to other jurisdictions (eg, tax incentives, start-up loans or guarantees, grants, collaboration on data collection and analysis, educational programs for investors and start-ups, help with regulatory compliance, etc).As the draft report mentions, the UK has been very assertive in supporting start-ups and fintech. HM Treasury recently announced that small businesses struggling to access finance from the banks have found funds via government requirements that the biggest banks pass on the details of small businesses they have rejected for finance to alternative finance platforms - Funding Xchange, Business Finance Compared, Alternative Business Funding, and Funding Option. <https://www.gov.uk/government/publications/designation-of-banks-and-finance-platforms-for-finance-platforms-regulations>4. With respect to barriers caused by regulation, we add only that regulatory burden also tends to favour larger incumbent firms.5. Regulatory arbitrage is not necessarily a bad thing, as the report appears to suggest.6. We support all the recommendations in the report, in particular the recommendation for a FinTech policy lead in this complex and fast moving area.7. We would like to see an additional recommendation for more transparency in regulatory analysis. It has been very difficult in the past to respond to regulators' proposals because the published analyses have not been clear or complete. The problem proposed to be solved by regulation is rarely defined, the reasons for concluding that a regulatory intervention is needed are rarely set out, alternative solutions are not described with the reason(s) why one solution has been chosen rather than another, and (published) cost benefit analysis or impact assessment is rare. This means that stakeholders must infer much of the analysis and often do not have the data they need to respond. We would like to see a more transparent regulatory approach to reduce the risk of unnecessary or incorrect regulation and to enhance collaboration.

    We would also like to see the encouragement of fintech advisory groups to governments and regulators with strong representation from the businesses themselves.

    8. The statements in the following paragraph are contestable - some are highly contestable.

    "The large financial institutions in this country did not fail, largely due to Canada’s strong regulatory regime and the sound business practices of those institutions. Because our financial institutions did not fail, demand for P2P lending and equity crowdfunding is significantly lower in Canada than in jurisdictions where the financial crisis had a greater impact or where regulatory regimes were insufficient to prevent widespread bank failure. In those jurisdictions, regulators responded by strengthening restraints on financial institutions, effectively causing a contraction in available SME credit. As a result, demand for P2P lending and equity crowdfunding increased significantly faster than in Canada."

    We suggest that references to support these conclusions be added.

    9. We are not sure why, in the description of the UK's regulatory framework for P2P, the word "forces" rather than simply "requires" is used.

    10. We do not agree that "in the UK, [a] renewed focus on competition has led to the establishment of the "twin peaks" of regulatory structure: the Prudential Regulation Authority (PRA) and the FCA." Rather, it was the other way round. As HM Treasury's consultation document of July 2010 states -

    "1.4 The UK’s ‘tripartite’ regulatory system made three authorities – the Bank of England (the Bank), the Financial Services Authority (FSA) and the Treasury – collectively responsible for financial stability, and, as a result, this system failed in a number of important ways."

    "1.6 Perhaps the most obvious failing of the UK system, however, is the fact that no single institution has the responsibility, authority or powers to monitor the system as a whole, identify potentially destabilising trends, and respond to them with concerted action." [https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/81389/consult_financial_regulation_condoc.pdf]

    The UK Government's decision to change the regulatory structure led to a renewed focus on (among other things) the competition objective of the regulator and (after strenuous debates in Parliament) a stronger competition objective was added to the legislation.

    11. We suggest that "risk" be defined. For most risk professionals, it simply means "uncertainty". With uncertainly comes both threat and opportunity. And of course risk does not exist in a vacuum, it is always 'risk to what?' (to competition? to regulatory objectives?).

    Thank you for the opportunity to comment.


 

The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada.  For more information, please visit:  www.ncfacanada.org

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BCSC sponsors British Columbia’s first Regtech Hackathon

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British Columbia Securities Commission Release | Nov 16, 2017

VANCOUVER, Nov. 16, 2017 /CNW/ - The British Columbia Securities Commission (BCSC) today announced its sponsorship of the first ever Regtech Hackathon held in British Columbia. The one-day Hackathon will challenge participants to create innovative solutions to help industry meet its regulatory requirements more efficiently and effectively, and improve regulatory quality and competitiveness.

"The BCSC is a strong supporter of industry-led innovations and solutions," said Mark Wang, Director, Capital Markets Regulation, BCSC. "We are excited to be a part of this event, because we believe it has the potential to generate some truly novel and exciting ideas to help advance regulatory technologies."

The Regtech Hackathon is part of the National Crowdfunding Association of Canada's (NCFA) VanFUNDING 2017 Conference on Tuesday, November 28. Teams of three to six people will select a problem statement to solve and work throughout the day on their pitch with help from experienced mentors, including some BCSC staff members.

The full problem statements are available on the VanFUNDING Conference's website, and address the following five areas of focus:

  • Blockchain, Crowdfunding, and Smart Contracts
  • Capital Markets Innovation
  • Know Your Client (KYC)
  • Investor Protection and Investment Literacy
  • Registration and Compliance (Tracking)

"We are thankful to the BCSC and other industry partners for their support," said Craig Asano, NCFA Founder and CEO. "This collaborative approach is the basis for developing creative and innovative regtech solutions. We encourage entrepreneurs and regulatory experts, innovators, data analysts, designers, and developers to join us in helping discover and launch some amazing B.C. regtech-focused projects."

The winning team will have an opportunity to present their pitch to the VanFUNDING Conference, as well as a chance to win prizes valued at over $20,000. Submissions will be judged on innovation, user experience, pitch, and viability.

The Regtech Hackathon will take place at the Morris J. Wosk Centre for Dialogue located at 580 West Hastings Street, Vancouver, B.C. More information on the Hackathon, including how to register, can be found on the VanFUNDING Conference website.

About the British Columbia Securities Commission (www.bcsc.bc.ca)

The British Columbia Securities Commission is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by fostering:

  • A securities market that is fair and warrants public confidence
  • A dynamic and competitive securities industry that provides investment opportunities and access to capital

Learn how to protect yourself and become a more informed investor at www.investright.org

SOURCE British Columbia Securities Commission

For further information: Media Contact: Alison Walker, 604-899-6713; Public inquiries: 604-899-6854 or 1-800-373-6393 (toll free), inquiries@bcsc.bc.ca

Related Links

http://www.bcsc.bc.ca


The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada.  For more information, please visit:  www.ncfacanada.org

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VanFUNDING 2017 Brings Over 50+ Leading Blockchain, Fintech & Capital Innovation Experts to Vancouver NOV 28 @Morris Wosk Centre

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NCFA Canada | Craig Asano | Nov 15, 2017

Looking for world class education, funding, partnerships and growth within the blockchain and financial tech sector?

VanFUNDING 2017 GOING MAINSTREAM is the premier West Coast conference dedicated to connecting people looking to form long-lasting partnerships, investment and business opportunities.

In less than 2 weeks, VanFUNDING2017 Blockchain, Fintech & Funding Conference and Regtech Hackathon  descends on Vancouver November 28th, 8am-6pm at the Morris Wosk Centre for Advanced Dialogue. There is also a VIP networking event on November 27 from 530-8pm at the Diamond cocktail lounge where you can meet the biggest names in Fintech.

VanFUNDING 2017 offers world class program and education delivered via keynotes, TEDx-style presentations, panels and workshops covering Blockchain, Fintech, Regtech, and Innovation Finance topics from a diverse range of perspectives including technology, finance, legal, global innovation and humanity.

The title sponsor is Raymond James, with Gowling WLG, Victory Square Technologies, Blockchain Intelligence Group, and Etherparty as platinum partners.

“We are proud to sponsor The National Crowdfunding Association of Canada,” says Sean Martin, Managing Director, Investment Banking at Raymond James Ltd.  “There has been an explosion of blockchain technology that has proven 2017 to be the tipping point of financial innovation.”

The conference features over 50+ expert speakers and mentors from companies and organizations such as Microsoft, IBM, TSX Venture Exchange, Blockchain Intelligence Group, RightMesh, Grow VC, AIBB.io, CoinPayments, Pegasus Fintech and TokenFunder. They will be covering ground-breaking topics such as Blockchain smart contacts, Initial Coin Offerings, emerging regulations, and opportunities in PeerToPeer crowdfinancing, investment opportunities, cryptocurriences, intelligence applications and global financial marketplaces.

"Vancouver is quickly establishing itself as a prominent market for blockchain innovation on the global scene. Victory Square has always supported events that facilitate discussion and collaboration on disruptive new technologies and the VanFUNDING conference falls in line with this mandate. We look forward to an excellent event that will allow our local tech community access to some of the global thought leaders in the blockchain space," said Shafin Diamond Tejani, CEO of Victory Square Technologies.

"We look forward to a great conference & BCs first ever Regtech Hackathon and would like to thank everyone involved from organizers, volunteers, sponsors, community partners and of course our awesome speaking roster!  Special thanks to the BC Securities Commission for their support, and a growing list of Regtech Hackathon partners such as Vancity, Supirio and Launch Academy who all recognize the need for a collaborative approach to developing innovative Regtech solutions.

While Regtech is new in Canada, its gaining significant traction globally, and firms are gaining a competitive advantage.  Participation in the hackathon is inclusive and we encourage entrepreneurs and regulatory experts, innovators, data analysts, designers and developers to all join us in helping discover and launch some amazing BC Regtech-focused projects", said Craig Asano, CEO VanFUNDING.

VanFUNDING 2017 brings together start-ups and leading industry professionals in a unique venue, selected to promote interactive dialogue and discussion. Combined with workshops and a Regtech Hackathon co-hosted with the BC Securities Commission where $20,000 is up for grabs in cash and prizes, this is a not to be missed event that provides opportunities for all types of businesses in the blockchain and financial technology sector to innovate, learn and network.

 

For more information about VanFUNDING 2017, please visit:  http://vanfundingconf.ca/

 


The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada.  For more information, please visit:  www.ncfacanada.org

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