News & Analysis as of

Canada Crowdfunding

Stikeman Elliott LLP

Fintech 2023

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Canadian fintech industries, particularly digital payments, digital trading, robo-advising and open banking, continued to experience significant growth until 2022. The pace of innovation had been accelerated by expansive...more

Bennett Jones LLP

Anti-Money Laundering Rules Expanded to Include Payment Service Providers and Crowdfunding Platforms

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Payment service providers and crowdfunding entities that were not previously subject to anti-money-laundering (AML) and anti-terrorist financing (ATF) legislation in Canada should be aware of changes that came into force...more

Davies Ward Phillips & Vineberg LLP

Filling the Gap: Scope of Canadian Anti-Money Laundering Laws Expanded

The Canadian federal government has fulfilled its promise to expand Canada’s anti-money laundering (AML) regime to cover crowdfunding platforms and certain payment service providers (PSPs) that previously operated outside the...more

Stikeman Elliott LLP

Ottawa Issues Emergencies Act Proclamation, Order and Regulations, Citing Blockades at Various Locations in Canada

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Executive Summary - The steps that the Canadian government has recently taken under the Emergencies Act in relation to blockades that are stated to be occurring in places throughout Canada pose significant compliance...more

Davies Ward Phillips & Vineberg LLP

Following the Money: Emergencies Act Invoked to Expand Anti-Money Laundering Rules

The Canadian federal government announced this week that it was invoking the never-before-used Emergencies Act1 in response to ongoing blockades and occupations arising out of the self-titled “Freedom Convoy” protests. As...more

Cozen O'Connor

The State AG Report – 2.10.2022

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Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: Baby Food Manufacturer Agrees to Reduce...more

Cozen O'Connor

Texas Attorney General Launches Probe of GoFundMe over Suspension of Fundraiser for Canadian Truckers Protesting Vaccine Mandates

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Texas AG Ken Paxton issued a Civil Investigative Demand (“CID”) under the Texas Deceptive Trade Practices Act to crowdsourcing platform GoFundMe Inc. over GoFundMe’s removal of a fundraising campaign for the Canadian truckers...more

Dorsey & Whitney LLP

The Lights Could Go Out on Over-the-Counter Companies on September 28, 2021

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On September 28, 2021, companies trading in the United States over-the-counter securities markets (“OTC Markets”) that do not comply with amended Rule 15c-211 will no longer be eligible for quotation on the OTC Markets,...more

Bennett Jones LLP

ASC Adopts Crowdfunding Prospectus Exemption for Small or Start-up Alberta Businesses

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Effective October 31, 2016, the Alberta Securities Commission (ASC) adopted Multilateral Instrument 45-108 Crowdfunding (MI 45-108) which provides Alberta-based issuers with a crowdfunding prospectus exemption. MI 45-108 is...more

Bennett Jones LLP

New Capital-Raising Initiatives for Alberta-based Start-up Businesses

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On July 26, 2016, the Alberta Securities Commission (ASC) adopted a start-up business exemption (ASC Rule 45-517 Prospectus Exemption for Start-up Businesses), which is designed to be a simpler and less costly capital raising...more

Bennett Jones LLP

New Prospectus Exemption for Investors that Receive Suitability Advice from a Registered Investment Dealer

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Securities regulatory authorities in each of British Columbia, Alberta, Saskatchewan, Manitoba and New Brunswick recently announced the creation of a new prospectus exemption that will allow certain issuers to distribute...more

Bennett Jones LLP

Alberta Securities Commission and Nunavut Securities Office Publish Proposed Start-up Business Exemption

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The Alberta Securities Commission (ASC) and Nunavut Securities Office recently published for comment proposed Multilateral Instrument 45-109 Prospectus Exemption for Start-Up Businesses (the Proposed Exemption). The Proposed...more

Blake, Cassels & Graydon LLP

Cooperative System Legislation and Regulations Released: Fees, “Interface” and Transition Unresolved

On August 25, 2015, a revised consultation draft of the uniform provincial and territorial Capital Markets Act (CMA) and draft initial regulations under the CMA (Initial Regulations and, together with the CMA, the...more

Bennett Jones LLP

More Provinces Crowd into Crowdfunding, but Not Yet Ontario or Alberta

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On May 14, 2015, the securities regulators of British Columbia, Saskatchewan, Manitoba, Québec, New Brunswick and Nova Scotia (the Crowdfunding Jurisdictions) announced that they have implemented, or expect to implement,...more

Bennett Jones LLP

Crowdfunding and Other New Prospectus Exemptions Proposed by the Ontario Securities Commission

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On March 20, 2014, the Ontario Securities Commission (OSC) published for public comment four new prospectus exemptions intended to facilitate capital raising while maintaining investor protection. The proposed exemptions...more

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