Category Archives: NCFA Blog

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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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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NCFA Submission to Ontario Ministry of Finance: Urgent Need for Regulatory Change

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NCFA Canada About Us | Internal Working Committee | Nov 4, 2017

Ontario's Crowdfunding Requirements are Market Stifling

Nov 4, 2017 Toronto -- Canada’s crowdfunding regime must be competitive, in line with global trends, and ‘smarter’ to enable wider access to small amounts of capital (i.e. < $5 million) by early stage companies. There is a ‘funding gap’ in the market as many smaller companies find it extremely challenging to raise funding. This means fewer innovative start-ups, fewer opportunities for investors and constraints on economic growth (and jobs).

Since the regulatory regime came into force on Jan 25, 2016, the National Crowdfunding Association of Canada (NCFA) has conducted numerous stakeholder consultations which overwhelmingly tell us that the current requirements are overly prescriptive, complex and burdensome (costly).  They restrict crowdfunding to a limited number of investors and discourage smaller issuers and licensed dealers from participating.

As a result, Ontario and Canada are falling behind international comparators such as the United Kingdom (U.K.) and the United States (U.S.). Companies and investors are reluctant to participate due to the high costs (relative to the small financing size), unwarranted transactional and ongoing regulatory burdens, and educational gaps.  This pushes many talented entrepreneurs, investors and key stakeholders to overseas jurisdictions that understand (and support) innovation and the economic potential of start-ups and small businesses.

In its 2017 Ontario Exempt Market Report, the Ontario Securities Commission (OSC) confirmed that M1 45-108 had not been used at all in Ontario. A small number of issuers have used online platforms to raise capital under the Accredited Investor or Offering Memorandum exemptions. In the NCFA’s view, this warrants further analysis and changes to the existing regime.

The U.K. has a more innovative risk-based regulatory approach that is acknowledged to be world class and is highly adaptive to emerging technologies. NCFA strongly encourages Canadian regulators to study its approach.  The U.K. also has assumed a leadership role with incentives and funding to support early market traction and education.  In the U.K., crowdfunding activity continues to flourish, representing 25% of all equity deals announced in 2016.

The U.S. has also made significant progress with 134,000 small businesses benefiting from crowdfunding in 2016 (some of which are Canadian) versus only 7,450 in Canada.  In the U.S. there is an ongoing effort to fix bugs and improve regulation with a focus on protecting investors and providing improved opportunities for smaller entrepreneurs and investors to generate wealth (e.g. “H.R. 4855 Bill “Fix Crowdfunding Act” passed by the House on July 6th, 2016).

While NCFA has participated in numerous key stakeholder fintech consultations with a wide range of regulatory and competition agencies such as the MoF, BCSC, OSC and the Competition Bureau there is:

"Urgent need for regulatory change that must be addressed from the top down to ensure these issues have a political champion with the mandate to reduce critical barriers that limit economic growth and Canada's ability for fintech innovations and peer to peer distributed technologies to be globally competitive.", said Craig Asano, CEO, NCFA Canada.

Thanks to the NCFA internal working committee on regulations and governance, lead by NCFA Advisor, Robin Ford and the numerous individuals and companies that participated to prepare the submission, and/or participate in various meetings with government agencies, such as the MoF, BCSC, OSC and Competition Bureau across the country to foster Canadian fintech competitiveness and help reduce barriers for both new entrants and operators looking to scale and remain competitive with international trends.

"The current regulatory approach to crowdfunding is not working. We are sending our innovators and entrepreneurs to the US for capital! Regulators, governments, and other stakeholders must collaborate on a more risk-based and flexible approach to this rapidly evolving sector while also recognizing that start-ups and scale-ups need a helping hand to unleash their economic potential" -- Robin Ford, NCFA Advisor and Regulations and Governance Committee Lead

 

Meeting with the Ontario Ministry of Finance

On October 20, NCFA met with with Ontario's MoF to discuss ways to enhance access to capital (esp. for small businesses), stimulate investment and improve competitiveness in line with international fintech trends & distributed technologies impacting Crowdfinance, P2P, Blockchain ICOs, Altfi and global digital marketplaces.

Call to Action:

  1. Work harder to harmonize and reduce unjustified regulatory burden:   We strongly encourage the Ontario government, and the OSC, to work smarter (and harder) to streamline regulation across the country, reduce undue burdens that undermine cost effective capital formation for young companies (and that bear no relation to the risks presented by crowdfunding), and provide the required resources and support to encourage the crowdfunding sector and to improve Ontario’s competitiveness.
  2. Canada (Ontario) Needs a political champion to promote regulatory change:   Industry needs to garnish support from the Ontario MoF to champion the proposed regulatory changes deemed the highest priorities for change based on data/evidence, consensus from wide stakeholder consultations and comparative analysis of Canadian markets with international jurisdictions such as the UK and the US.
  3. Address urgent pressing challenges and implement NCFA's proposed specific regulatory changes:  such as lack of harmonization and mutual recognition, overly prescriptive rules (vs. risk/principles based regulatory approach), full service Sandbox with cohorts etc (vs current concierge service) and educational/resource gaps. 


Download the Ontario MoF Submission --> PDF here

 

The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both investment and social crowdfunding, blockchain ICO, alternative finance, fintech, P2P and online investing stakeholders across the country.  NCFA Canada provides education, research, leadership, support, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a vibrant and innovative online financing industry in Canada.  Join Us!  Learn more About Us or visit www.ncfacanada.org.

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Vancouver Conference + Hackathon (NOV 28): 3rd VanFUNDING 2017 ‘GOING MAINSTREAM’ (Registration Open)

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NOV 28:  VanFUNDING 2017 - GOING MAINSTREAM

BLOCKCHAIN FINTECH & FUNDING CONFERENCE (#VF2017)

When:  Tuesday, NOV 28, 2017 (8am - 6:30pm)

Venue: Morris J. Wosk Centre for Dialogue (Asian pacific hall)

580 W Hastings St, Vancouver, BC V6B 5K3 (map)

$350 Registration / *$395 VIP Pass

 $250 Member Discount / *$295 VIP Pass

*VIP Passes (Include Nov 28 + Nov 27 Networking)

REGISTER WITH CODE VF2017_DEAL SAVE 10%


NOV 28:  VF2017 REGTECH HACKATHON

1 Day Hackathon + Cash Prize + Rewards

When:  Tuesday, NOV 28, 2017 (8am - 6pm)

Venue: Morris J. Wosk Centre for Dialogue (Concourse)

580 W Hastings St, Vancouver, BC V6B 5K3 (map)

*$150 Individual

*$400 Small Team (2-3 members)

*$650 Large Team (Up to 6 members)

* Hackathon is co-hosted with the BC Securities Commission

REGISTER WITH CODE VF2017_DEAL SAVE 10%



NOV 27:  VIP NETWORKING RECEPTION

Pre-VanFUNDING VIP Mixer

Monday, NOV 27, 2017 (5:30pm - 8:00pm)

Venue:  The Diamond (map) 6 Powell St. Vancouver, BC V6B 1G7

$75 Registration

* Networking with speakers, partners, investors and VIP attendees

View Launch Release

Not to be missed - will sell out! Last conference of the year...

3rd VanFUNDING 2017 (#VF2017) is an immersive full day financial innovation forum and premiere hackathon hosted by the National Crowdfunding Association of Canada, partners and affiliates on Tuesday, Nov 28 in downtown Vancouver, Canada at SFU's Morris J Wosk Centre for Dialogue. #VF2017 is a leading conference dedicated to accelerating access and development of emerging financial technologies, funding opportunities and capital innovation markets across Canada and around the world. The conference ignites venture markets and provides opportunities for startups and scaleups seeking to connect with financial innovators, private capital markets, investors, and partners to expand their networks. The 2017 agenda covers the hottest topics from Blockchain smart contracts and Initial Coin Offerings (ICOs) to the latest developments, emerging regulations, new business models in PeerToPeer (P2P) crowdfinance, fintech, alternative finance, cryptocurrencies, artificial intelligence applications, and global financial marketplaces. Other vital capital innovation topics will cover international developments, perk/rewards, lending, equity, royalty, market provisioning and infrastructure; investor marketing, leadership culture, cyber security and legal and financial considerations.


Learn the Latest Funding Opportunities and Fintech Market Developments and Plug into a Collaborative Community of Experts, Investors, Stealth Startups, Prospective Partners and Financial Innovators

VanFUNDING 2017 is a not to be missed BLOCKCHAIN and FINTECH FUNDING conference that pushes boundaries to discuss the latest developments, educate, inspire, and connect ‘You and your vision’ with leading innovators, entrepreneurs, investors, vendors, thought leaders and policy makers in the quickly emerging sectors of fintech, P2P, crowdfinance, blockchain ICOs, digital currencies and alternative finance.

PARTICIPATE in the Future of Financial Services!

Volunteer? Apply here  |  MEDIA pass? Visit here

Join the Affiliate Program

Questions or in-kind Partnerships?

Email: info@ncfacanada.org


Visit the Website:  VanFUNDING.ca

Or Check out #VF2017:  Partners | Speakers | Program

More info?

View Launch Release

How to Take Advantage of Blockchain, Cryptocurrency and Financial Technology

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[VanFUNDING 2017, NOV 28]: Blockchain Fintech Conference + RegTech Hackathon (Vancouver)

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NCFA Canada | Team #VF2017 | Oct 5, 2017

VANCOUVER, BC – October 5, 2017 – In less than two months, the National Crowdfunding Association of Canada (NCFA) will be hosting the 3rd annual VanFUNDING 2017, an immersive full day financial innovation forum and premier hackathon on Nov 28 in downtown Vancouver at SFU's Morris J Wosk Centre for Dialogue.

VanFUNDING 2017 is the leading Blockchain and Fintech educational conference dedicated to igniting online and alternative finance markets in Canada providing opportunities for startups and scaleups seeking to accelerate access to private capital markets, investors, and partners to expand their networks.  In addition to prime networking and leading educational series, the conference is expanding to include a 1 day hackathon to provide opportunities for Blockchain RegTech and Fintech startups (stealth) seeking business and technical mentorship, partners, and opportunities for investment in a 'business concept' sprint with winning companies pitching to prominent judges for feedback and prizes.

The 2017 agenda covers the hottest topics from Blockchain smart contracts and Initial Coin Offerings (ICOs) to the latest developments, emerging regulations, new business models and opportunities in PeerToPeer (P2P) crowdfinance, fintech, alternative finance, cryptocurrencies, artificial intelligence applications, and global financial marketplaces.

Looking for massive disruption and globally expanding markets?

'Crowdsales', Initial Coin Offerings (ICOs) and tokens represent the next generation of Crowdfinance and P2P online capital and community aggregation having raised in excess of $1 billion in the first half of 2017. ICOs are fully digital offers that are designed and sold using the protocols of smart contract technology inherent on public blockchains such as Ethereum that are quickly evolving.  With new crowdfunding regulations and an explosion of blockchain technology and initial coin offerings powering cryptoeconomics and  continued strong investor appetite for innovative fintech companies, 2017 is a new wave of financial innovation and tipping point full of opportunity as markets coalesce globally for a piece of the action, however with new potential and growth comes new challenges and risks.

VanFUNDING 2017 will feature a prominent keynote, 'Stories from the Edge', leading start-ups and industry participant experts in a unique 'UN-style' venue selected to promote interactive dialogue and discussion.  Combined with workshops and a 'business concept' hackathon there are opportunities for the entire venture funding ecosystem from companies to policy makers and start-ups to enterprise.  Other vital capital innovation topics will cover international developments, perk/rewards, lending, equity, royalty, market provisioning and infrastructure; investor marketing, leadership culture, cyber security and legal and financial considerations.

Get involved with VanFUNDING 2017! 

  • Are you a leading financial innovator, investor or a blockchain rock star? Apply to speak here; or
  • Build your brand’s profile, gain access and help shape the industry (view Partnership Opportunities); or
  • Help make the event day outstanding, apply to volunteer here; or
  • Media passes are available for accredited media representatives.

Hurray!  Early Discount Registration Until NOV 8 (Save 30%)!

Visit the VanFUNDING 2017 conference website to learn more.

vanfunding.ca

# ##

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

For more information, please contact:

Media Contact:

Craig Asano
Executive Director
casano@ncfacanada.org
416 618 0254
@NCFACanada

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David Lucatch, CEO, Pegasus Fintech, Inc. Joins National Crowdfunding Association of Canada’s Advisory Group

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NCFA Canada | Craig Asano | Sept 26, 2017

David Lucatch, Advisor

TORONTO, SEP 26, 2017 – The National Crowdfunding Association of Canada (NCFA) today announced that David Lucatch, Founder and CEO of Pegasus Fintech, Inc., has joined the Association`s growing Advisory Group to advise on the areas of fintech, blockchain and cryptocurrency.

David Lucatch – Founder and CEO, Pegasus Fintech, Inc.

Staring his career at the emergence of desktop publishing in the mid 1980’s and as an early Internet adopter, David has spent more than 30 years in the international marketing arena and over 20 years of that developing online business concepts and technologies and taking them to market.  David has held senior management posts and directorships at both private and public media and technology firms. Throughout his business career he has been an active supporter of numerous organizations and has been recognized and awarded internationally for his service and community support activities.  Through his finance and related support activities, David has been instrumental in capital formation programs for start-ups, technology, online, digital engagement and integrated marketing initiatives.

David Lucatch is a graduate of the University of Toronto, (Commerce and Economics) and an Arbor Award recipient.  As an active entrepreneur in the global Internet arena since 1995, David led the development of the first online payment processing gateway for Canadian eCommerce transactions as well as teams in the development of global technology patents.  Mr. Lucatch has been active as an advisor, board member and as part of leadership teams in private, institutional and public companies in North America.  He also served as an inaugural member of the Ontario Securities Commission SME Committee.

This year, David embarked on his latest business endeavor creating Crowdgener Inc. and its sister company Pegasus Fintech, Inc.  Both companies are positioned to support founders and emerging companies in their efforts to preserve long-term ownership and promote growth opportunities through crowd based funding programs, including the issuance of regulatory compliant cryptocurrency.  David is the founder of Pegasus Fintech, Inc., an enterprise that focuses on supporting innovative solutions in the Financial Services, Technology, Blockchain and Cryptocurrency communities.

“I am very honoured to join the NCFA and its Advisory group.  The proliferation of crowd investment and social endeavors, in all its variations, continues to gain global traction at an accelerated pace.  The NCFA offers its members and the community an opportunity to be heard and participate in educational, research, leadership, and development networking opportunities to remain at the forefront of areas like blockchain and regulatory compliant cryptocurrency programs, which is Pegasus' area of focus and expertise.” – David Lucatch, Founder, Pegasus Fintech, Inc.

“We welcome the vast experience that David brings to the NCFA advisory group.  As more and more companies and investors learn about the expanding programs and fintech infrastructure that is being built in Canada, the barriers to capital innovation are being reduced, and the spirit of new commercial economies are being sewn with an outlook to the future.” – Craig Asano, Founder, NCFA Canada

# # #

About National Crowdfunding Association of Canada

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

About Pegasus Fintech, Inc.

Pegasus Fintech, Inc. focuses on supporting innovative solutions in the Financial Services, Technology, Blockchain and Cryptocurrency communities.  Pegasus has developed a full-service process for assisting organizations who want to do an Initial Coin Offering (ICO).  Together with our team of highly skilled industry professionals and partners we create, with our clients, the necessary business, legal, accounting, technology development, capital and funding strategies, whitepapers, roadmaps, marketing and sales processes to deploy successful and compliant ICOs.  Pegasus also has created an integrated network platform, called the Pegasus Matrix, supporting interactivity through Pegasus supported ICO use cases.  This provides investors and Token holders the ability to use any Token within the Pegasus Matrix and to facilitate market liquidity.  For more information, please visit:  pegasusfintech.com

MEDIA CONTACT:
Craig Asano
Founder / CEO, NCFA Canada
416 618 0254
casano@ncfacanada.org

David Lucatch
Founder / CEO, Pegasus Fintech, Inc.
pegasusfintech.com

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David Lucatch, Advisor

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David Lucatch, Advisor

David Lucatch

Marketer, Tech Evangelist, Capital Supporter & Mentor

Staring his career at the emergence of desktop publishing in the mid 1980’s and as an early Internet adopter, David has spent more than 30 years in the international marketing arena and over 20 years of that developing online business concepts and technologies and taking them to market.  David has held senior management posts and directorships at both private and public media and technology firms. Throughout his business career he has been an active supporter of numerous organizations and has been recognized and awarded internationally for his service and community support activities.

With authorization from the NSA in the late 1990’s to export encryption technology from the United States, David developed the concept and led the initial online payment gateway team for the Canadian banking industry in 1997 with support from VISA and MasterCard.

In 1998, as part of the “kick off” for eCommerce in Canada, David and his team created an online marketing and eCommerce program for the Canadian Olympic Hockey team, featuring the first NHL professional players to join Olympic competition.  As part of the program, an exclusive promotional program was created featuring Wayne Gretzky for the Japanese market.

In early 2000, David successfully sold his interest in his first online company to focus on not for profit organizations and mentoring, creating initiatives that raised millions of dollars for organizations like the Children’s Miracle Network, DARE America, Reach for the Rainbow, Ovarian Cancer and others in North America, Europe and Australia from 2001 to 2004.  His legacy programs continued to create much needed funding for many of these programs.

Never one to sit still, in 2005 David returned to the online industry creating one of Canada’s first incubators, financing, creating and supporting projects globally in online language technology, VoIP telephony, online mapping, music and entertainment, live performance, Internet and mobile marketing and eCommerce.

Leading the development, marketing and launch program of his company’s initial online language technology, David and his team were instrumental in achieving a Guinness World Record in 2011 for the Most Nationalities in an Online Chat, which still stands today at 88.  At its height, the online chat platform offered real-time language to langue communications in over 60 languages and had over 200 million monthly users.

In 2013, David and his team worked with Disney Animation to create a global, multi-language “flash event”’ for the worldwide online premiere for the song Let It Go with Demi Lovato from the movie Frozen.   The iconic song reached won both the Academy Award for Best Original Song in 2014 and the Grammy Award for Best Song Written for Visual Media in 2015.

David has also been part of teams that have been granted several US and international business process patents and trademarks.

In 2013 / 2014 David was a principal funding partner of the study “The inter-language reliability of BRAINscreen in co-ordinate bilinguals” by Professor Konstantine Zakzanis, Associate Chair, Mental Health & Co-op Program University of Toronto Scarborough. The study focused on the identification and relationship between dementia screening and bilingual language capabilities in individuals.

In late 2015 and early 2016, David left his full-time duties as CEO of two companies to pursue his own interests in media and technology.

In early 2016, together with 2 partners, David formed Catch Star Studios, an enterprise that focuses on media, technology and merchandising for the sports and entertainment industry.  As digital engagement specialists, Catch Star Studios works with professional sports teams and entertainment companies globally to increase their user engagement and eCommerce activities.  As part of Catch Star Studios, David also developed a new interactive engagement platform for online and mobile video, Clix.VideoTM, that allows users to engage directly with the video by clicking on “in video” items and tags directly calling the information from the video directly to the user’s mobile phone, tablet or computer.

In February of 2017, Stars and Pinstripes, a series created by Catch Star Studios and featured on the YES Network and Direct TV, was nominated for a NY Emmy Award in the Entertainment Program / Special category for the episode featuring Garth Brooks. David is one of the Executive Producers of the series.

In early 2017, David embarked on his latest business endeavor creating Crowdgener Inc. and its sister company Pegasus Fintech, Inc.  Both companies are positioned to support founders and emerging companies in their efforts to preserve long-term ownership and promote growth opportunities through crowd based funding program, including the issuance of regulatory compliant cryptocurrency.

In addition to his current activities, David focuses his business energies on creating Excellence Teams for supporting emerging technologies and online enterprises with operational, support and key leadership for success.  He also spends time on his investments and inventing new technologies, marketing programs and applications.  David remains an active mentor in the North American online and educational community.

Through his finance and related support activities, David has been instrumental in capital acquisition program resulting in over $100 Million being funded for start-ups, technology, online, digital engagement and integrated marketing initiatives.

David graduated in 1985 with a degree in Commerce and Economics from the University of Toronto, Canada’s leading university and a top 20 global ranked university, and continues to serve as mentor for both U of T and a variety of student programs and leadership initiatives. In 2010 David was a recipient of an Arbour Award from the University of Toronto, recognizing his continued activities and contributions to his alma mater and served a term as a member of the University’s Electoral College representing UTSC.  David served as an inaugural member of the Ontario Securities Commission SME Committee.

 

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