Alberta and Saskatchewan securities regulators seek comment on proposed new exemption designed to facilitate access to capital

ASC | Denise Weeres | Nov 20, 2020

Calgary – The Alberta Securities Commission (ASC) and the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) are seeking input on a proposed new prospectus exemption designed to provide greater access to capital for Alberta and Saskatchewan businesses and broaden investment opportunities for Alberta and Saskatchewan investors.

“As our provinces are dealing with the economic impact of the pandemic, we are looking for new ways to better facilitate access to capital, while still protecting investors,” said Roger Sobotkiewicz, Chair and CEO of the FCAA. “Efforts are being taken to adapt our existing industries and diversify our economies. By innovating as regulators we can help support the growth of the innovation economy,” added Stan Magidson, Chair and CEO of the ASC.”

The proposed new self-certified investor prospectus exemption would allow investment by investors who certify to having certain financial and investing experience and education, and acknowledge certain investment considerations and risks. To reduce the risks to investors, investments would be limited in a 12-month period to $10,000 in any one business and $30,000 across multiple businesses.

See: 

ASC Updates Raising Capital for Small Businesses Resource: Fostering Alberta’s New Economy

ASC adopts Start-up Crowdfunding Blanket Order

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

Details of the proposal are set out in CSA Multilateral Notice 45-327 Proposed Prospectus Exemption for Self-Certified Investors available on the websites of the ASC and the FCAA. The comment period for the proposed new prospectus exemption is open until December 23, 2020.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

View release:  here

Comments are to be submitted by Dec 23, 2020

View the Self-Certified Investor prospectus exemption --> here

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, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Buying a Canadian MSB and Reviewing FINTRAC RPAA and Financial Due Diligence

Why MSCI Is Removing Strategy From Its Indexes

How Is Crypto Market Cap Calculated? What a Change in the Top Coins Really Tells You

What Happens When AI Agents Start Trading Together?

Canada’s VC Totals Are Reliant On Mega Deals

Why Canada Is Making It Cheaper to Leave Your Bank

CSA Tokenization Report Shows Where Canada May Scale First

Creative Ways to Boost Team Morale

Webull Adds Free Data as Canadian Brokers Compete Beyond Fees

BBVA Deploys Canadian AI for Derivatives Pricing