In a previous blog entry, Crowd Valley explained how Canada is moving towards a unified regulation for securities crowdfunding. In fact, the provinces of Ontario, Saskatchewan, Alberta, Quebec and New Brunswick started looking into a proposed regulation draft for this new source of finance (i.e. Crowdfunding Exemption).
Shortly after, British Columbia, that voluntarily stayed out of the group of Canadian provinces which was drafting a regulation for securities crowdfunding, asked its citizens whether it should backtrack and consider a specific regulation as well. The change of decision has been taken as a consequence of growing pressures by SMEs and start-ups, for which the current regime requires expensive compliance considerations.
Shortly after, British Columbia, that voluntarily stayed out of the group of Canadian provinces which was drafting a regulation for securities crowdfunding, asked its citizens whether it should backtrack and consider a specific regulation as well. The change of decision has been taken as a consequence of growing pressures by SMEs and start-ups, for which the current regime requires expensive compliance considerations.