Insights

New exemption under The Securities Act, 1988 allows for equity crowdfunding

The Financial and Consumer Affairs Authority of Saskatchewan has recently ordered the implementation of an exemption under The Securities Act, 1988 (General Order 45-925). The exemption is intended to allow start-up companies and small businesses to raise capital through equity crowdfunding by selling securities to public investors without the requirement of a prospectus. Although other provinces across Canada have considered implementing similar rules, the order, which was effective on December 6, 2013, makes Saskatchewan the first Canadian jurisdiction to allow such an exemption. ..

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