How Much Money Can a Company Keep When Crowdfunding?

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De-Mystifying Minimum, Maximum, ‘Keep it All’ and ‘All or Nothing’ Offerings By Brian Koscak and Alixe Cormick  Securities regulators and those active in the financial industry seem to have their own secret language. Sometimes it can be difficult for companies and investors to understand what it all means. In this article, we are going to […]

The $150,000 Minimum Investment Exemption in Canada – Proposed Changes

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In Canada, an issuer does not have to provide an investor with a prospectus if an investor purchases, as principal, a security of a single issuer and pays $150,000 or more in cash at the time of the investment. This is a simple prospectus exemption that is based on a minimum investment amount (the MA […]

PCMA Comment Letter to Proposed CSA Changes to Accredited Investor and Minimum Amount Exemptions

As Chair of the Private Capital Markets Association of Canada (PCMA), I am pleased to have contributed to the preparation and submission of the PCMA’s comment letter to the Canadian Securities Administrators (the CSA) about proposed changes to the accredited investor exemption (theAI exemption) and the minimum amount exemption (the MA exemption) as set out […]

Remarks by Howard Wetston Chair, Ontario Securities Commission Private Capital Markets Association Annual Conference June 2, 2014

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On June 2, 2014, the Private Capital Markets Association of Canada (the PCMA) held its 2014 Annual Conference at the Board of Trade in Toronto, Ontario.  There were over 320 attendees at a sold out event. As Chairman of the PCMA, I had the distinct honour and pleasure of introducing our keynote speaker, The Honourable Howard […]

OSC Dialogue 2013 – Capital Formation in Canada: Issue or Opportunity – Listen to Audio

At OSC Dialogue 2013, Moderator David Kaufman, President and Chief Executive Officer, Westcourt Capital Corporation, led a discussion on Capital Formation in Canada: Issue or Opportunity.  The distinguished panel involved: Kevan Cowan, President, TSX Markets and Group Head of Equities, TMX Group Huston Loke, Director, Corporate Finance, OSC Jos Schmitt, Chief Executive Officer, Aequitas Innovations […]