Global fintech and funding innovation ecosystem

Advocacy

The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners, and affiliates to create a vibrant and innovative fintech and funding industry in Canada.  Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain and cryptocurrency, regtech, and insurtech sectors.

The NCFA Canada works to reach this destination by:

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

View:

NCFA OpEd: Canada's Open Banking: Let's Get It Done! (Dec 3, 2020)

NCFA Response to Ontario's Capital Markets Modernization Taskforce Consultation (Sep 7, 2020)

NCFA Response to CSA on NI 45-110 Harmonized Securities Crowdfunding Rules  (May 27, 2020)

NCFA Open Letter: Government should collaborate with Fintechs during the COVID-19 pandemic to give Startups and SMEs a Fighting Chance on April 15, 2020

NCFA Response to ASC Consultation Paper 11-701: Energizing Alberta’s Capital Market on Sep 22, 2019

NCFA Comments: CSA/IIROC Joint Consultation Paper 21-402: Proposed Framework for Crypto-Asset Trading Platforms on May 2019

March 1, 2019: NCFA Submission to the Ontario Securities Commission on Regulatory Burden on Mar 1, 2019

NCFA Letter to Ontario Economic Development on Burden on Jan 31, 2019

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 May 28, 2018

NCFA Canada’s response to BCSC Notice 2018/1 ‘Consulting on the Securities Law Framework for Fintech Regulation’ on Apr 3, 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 Minister of Finance: Urgent Need for Regulatory Change (report | summary) on Oct 18 2017

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

NCFA meeting with OSC - briefing notes on Aug 24, 2017

NCFA meeting with BCSC - briefing notes on Aug 15, 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

 


NCFA Jan 2018 resize - AdvocacyThe 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: ncfacanada.org

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Launch Release | Jul 18, 2024 A New Equity Crowdfunding Portal Dedicated to Servicing Albertan Small Businesses has Launched July 17, 2024, Calgary AB - A new equity crowdfunding portal, Go Alberta, has announced it's launch, and is aimed at helping Alberta's small businesses. Throughout the province, small and medium-sized businesses (SMEs) will be able to access a community-driven finance solution.  Go Alberta's goal is to empower local companies by introducing them to a variety of investors so they can raise the capital they require to expand and prosper. By democratizing investment options, this platform enables regular Albertans to contribute to and profit from the success of regional businesses. See:  Equity Crowdfunding Demystified: Insights from Wefunder and Equivesto There are numerous of benefits to raising an equity crowdfunding campaign, such as: Offers an innovative and accessible way for companies to obtain capital, particularly those that are having trouble obtaining traditional finance. Gives Albertans the opportunity to support via investment the economic development of their local communities. Investors benefit when the companies they support develop and succeed, fostering a win-win situation in support of local economies. Equity Crowdfunding Regulations In Alberta and across Canada, equity or investment crowdfunding is governed by ...
GO Alberta equity crowdfunding portal - Advocacy
Jul 18, 2024 The present digital landscape is dominated by social media, with brands vying for attention amid the online competition. A staggering 5.07 billion people—comprising 62.6% of the world's population—were using social media platforms as of May 22nd, 2024, thus encouraging an increasing number of businesses to focus on their social media presence to effectively connect with audiences. As a result, collaborating with influencers has emerged as a highly effective marketing strategy whereby individuals who have gathered loyal followings can instill trust and engagement essential for your brand’s success. By selecting appropriate influencers to work with, you can boost your overall social media outreach efforts resulting in record-breaking levels of impact. This article examines the tactical implementation of influencer collaborations to enhance your brand's social media visibility. Boost Your Followers Before Finding the Right Influencer Influencer partnerships are a two-way street. While you will certainly look for influencers with a substantial following to reach a wider audience, the influencers themselves will expect the same from your brand. More followers signal that your brand already has something of value, making it a win-win for influencers. They get exposure to your engaged community, and you leverage their reach to skyrocket yours ...
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Jul 18, 2024 Imagine this: you’re on a cross-country train or perhaps sailing on a boat, and you suddenly need a document notarized. Is it even possible? Can a mobile notary come to your rescue in these situations? For those always on the move, this could be a game-changer. If you're curious about how mobile notary services work, check out https://onenotary.us/mobile-notary-service/. Can a notary keep up with your travels? When you're constantly on the go, finding a notary can feel like trying to catch a butterfly with a net. But guess what? Mobile notaries are up for the challenge. These pros are like the superheroes of the notary world, coming to your aid whether you're on a train, bus, or boat. Picture this: You’re on a long train ride, sipping on some lukewarm coffee, and realize you forgot to notarize an important document. Panic sets in. But don’t worry! A mobile notary can meet you at the next stop, hop on the train, and take care of business while you enjoy the scenic route. It’s not just a pipe dream. This is actually happening! Now, you might wonder, “How does this even work?” It’s simpler than you think. Mobile notaries ...
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DAOs - Legal Perspective Report | Jul 17, 2024 UK Law Commission Publishes DAO Scoping Report The UK Department for Business and Trade, sparked by interest from HM Treasury, commissioned a study back in September 2022 to investigate the legal framework surrounding Decentralized Autonomous Organizations (DAOs). A call for evidence on the design, functionality, and legal integration of DAOs was quickly announced in November 2022, which had 27 submissions from academics, technologists, and attorneys offering various perspectives. Combined with follow-up discussions, the contributions culminated in a comprehensive 289 page PDF 'DAO Scoping Report' that examines the legal framework around DAOs today and identifies potential options for legal reform. What is a DAO? A Decentralized Autonomous Organization (DAO) is a novel type of online organization that functions by enforcing rules stored as computer programs, usually with the help of blockchain technology. With DAOs, decision-making and governance is managed by a community of participants instead of traditional hierarchical systems or middlemen. See:  The Emergence of Insurtech Solutions for DAOs Key features include: Decentralization --> Rather than being concentrated in the hands of one authority, control and decision-making are shared by all parties. Autonomy --> Smart contracts, which are self-executing and automatically enforce ...
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Policy | Jul 17, 2024 Bank of Canada Sees CBDCs as Essential for Financial Stability and Inclusion in the Digital Age The Bank of Canada has released another paper on Central Bank Digital Currencies (CBDCs), called "The Role of Public Money in the Digital Age" (25 page PDF).  This paper articulates staff's latest views which is a cautiously positive stance on the potential implementation of a CBDC. For those that have missed some of the previously published BoC reports on CBDCs, check out NCFA's fintech industry reports and research directory for more reading. BoC's Position on CBDCs In order to maintain the stability and effectiveness of the financial system in the digital era, the Bank of Canada believes that CBDCs may be essential for the financial system as it relates to the evolution of public money. They think a CBDC would serve as a secure, government-backed substitute for the many, proliferating stablecoins and private digital currencies.   Bluntly put, virtual currencies may pose a danger to the Canadian dollar, so a CBDC may be required to preserve monetary sovereignty.  The Bank of Canada would have more regulatory authority over the monetary system and be able to better manage economic policies and ...
BoC report The role of public money in the digital age July 2024 - Advocacy
Regulation | Jul 16, 2024 Three (3) Ethereum ETFs receive preliminary approval from the SEC to begin trading early next week The U.S. Securities and Exchange Commission (SEC) has given preliminary approval to three asset managers BlackRock, VanEck, and Franklin Templeton to begin trading spot Ethereum (ETH) Exchange-Traded Funds (ETFs) early next week, assuming no hiccups. The three companies have until the end of the week to complete their final offering documentation, and if they do, trading is likely scheduled to start on July 23, 2024.  Ethereum is now the second cryptocurrency to be approved as an ETF, after the SEC approved a slew of spot Bitcoin ETFs earlier this year. Analysts are predicting that similar to the approval of Bitcoin ETFs, which attracted large interest and investment at launch, the approval of Ethereum ETFs will draw a variety of institutional investors who were previously sitting on the sidelines due to regulatory concerns.  According to current optimistic trends, Ethereum may hit $4,500 thanks to improved investor confidence and clearer regulations.​ See:  SEC Approves 19b-4 Forms of First Batch Ethereum ETFs As U.S. regulators are paving the way for crypto ETFs, there's increased likelihood of additional cryptocurrencies like Solana ETF being ...
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AI | Jul 16, 2024 What outcomes can we expect from OpenAI's secret Project Strawberry? Recent reports on OpenAI's covert initiative, Project Strawberry, have drawn interest from artificial intelligence tech enthusiasts and business leaders. This initiative hints at a future where AI will be able to conduct deep research, think, plan ahead, and solve problems on par with humans with improvements in reasoning capabilities.  Below we explore the potential impacts on fintech, and ask ChatGPT itself to help assess the possibilities it holds for various sectors. What is Project Strawberry? According to Reuters and Bloomberg, Project Strawberry's objective is to develop AI systems that possess the ability to perform deep reasoning which means it can analyze and comprehend intricate issues, strategically plan, and proactively come up with solutions to deploy.  All combined such AI capabilities can be called Superintelligent AI, a remarkable achievement in the field of AI (and not for the faint of heart). Human-Level Problem Solving Fundamentally, the goal of Project Strawberry is to give AI the capacity to solve problems at the level of a human. This entails going beyond data processing and pattern recognition to effectively in real-time grasp context, make logical choices (that can be ...
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Milestone Release | Jul 15, 2024 Canadian finance startup, Vena Solutions, has announced that its annual recurring revenue (ARR) has surpassed $100 million USD, awarding it the esteemed Centaur classification, which is granted to privately held SaaS companies who generate $100 million USD in annual revenue. Vena's ARR milestone highlights the company's strong annual growth, which is being driven by a rise in the demand for its financial planning and analysis (FP&A) products. Serving more than 1,800 companies in a variety of industries, Vena has proven its scalable solutions, broad market appeal, and just closed a record setting quarter. Vena is dedicated to innovation and recently released an AI-powered tool, Vena Copilot. With the use of Microsoft Azure Open AI technology, this application improves FP&A skills and gives finance teams access to increased operational efficiency and strategic insights. Vena actively promotes a lively community by putting on events like Excelerate Finance, providing free online courses, and starting programs like Vena Academy. These initiatives support the development of an informed user base and improve client interactions. See:  Are you a Pig, Gazelle or Bear? Beyond Unicorns, Zoology of startups Hunter Madeley, CEO at Vena: “Achieving this designation represents an exciting milestone ...
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Event | Jul 15, 2024 Join the Global Fintech Seminar in Osaka Webinar: A Unique Opportunity for Fintech Enthusiasts Are you prepared to discover new opportunities in the financial industry? This is a chance for fintech enthusiasts and professionals to take part in a "Global Fintech Seminar in Osaka" on July 18, 2024, hosted by the Osaka Prefecture and Osaka City, supported by EY Japan. See:  WealthTech in Asia-Pacific: A Trillion-Dollar Opportunity Event Overview Date: Thursday, July 18th Time: 4:00 PM - 6:30 PM (JST) Format: Online via Zoom Fee: Free Application Deadline: July 17th, 5:00 PM (JST) Register Here Why Attend? Gain insights into the dynamic fintech ecosystem of Osaka through presentations from leading Osaka-based fintech companies such as Warrantee, Giftpad, and CTIA. Learn about exciting investment opportunities in one of Japan's most innovative financial hubs. Connect with industry experts, potential partners, and fellow fintech enthusiasts from around the world. Engage in roundtable discussions and individual meetings designed to foster collaboration and knowledge sharing. How to Register To participate in this free event, please register by visiting this link before the application deadline on July 17th, 5:00 PM (JST). See:  CCAF and WEF Unveil 2024 Global Fintech Report at ...
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Crypto News | Jul 15, 2024 Donald Trump's Support for Bitcoin and Impact on Trade and Financial Markets On Saturday, President Donald Trump narrowly survived an attempted assassination at a rally in Butler, Pennsylvania.  Markets reacted on Monday, with the price of Bitcoin skyrocketing over $63,000 (over 10%).  In the wake of the attack, investors responded favourably, seeing Bitcoin as a decentralized and safe financial instrument amidst periods of political instability. Furthermore, the Republican platform has officially declared its stance on digital assets, and Trump will be speaking at the upcoming Nashville, Tennessee, Bitcoin Conference. See:  ‘Mugshot Edition’ Trump NFTs Blending Politics, Memorabilia and Digital Assets Trump now supports Bitcoin, changing his earlier unfavourable stance. In his view, Bitcoin is a safe, decentralized substitute for established financial institutions that is necessary for both personal financial sovereignty and economic stability.  Trump's endorsement of Bitcoin has the potential to significantly influence trade policy in the future by encouraging international trade and lowering dependency on fiat currencies. This is consistent with his overarching economic plan to promote innovation and global market competitiveness. Following the assassination attempt, Polymarket showed Trump's chances of winning the 2024 presidential election significantly rose to 71%, it's all time ...
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