The Private Capital Markets Get ‘Crowded’ in Canada – Recent Developments in Equity Crowdfunding

On March 20, 2014, the Canadian Securities Administrators created significant buzz by proposing rules which would allow investors in large parts of the country to participate in equity crowdfunding.  Securities regulators in each of Manitoba, New Brunswick, Nova Scotia, Ontario, Quebec and Saskatchewan (the Participating Jurisdictions) published for comment proposed Multilateral Instrument 45-108 Crowdfunding Prospectus […]

Part II – Canadian Securities Regulators Propose New ‘Asset Backed Commercial Paper’ Exemption

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By: Brian Koscak, Jonathan Fleisher, Alison Manzer and Michael Brown The Canadian Securities Administrators (the CSA) have published for comment proposed amendments (the 2014 Proposals) to National Instrument 45-106 Prospectus and Registration Exemptions (NI 45-106). The 2014 Proposals seek to: amend the existing prospectus exemption relating to short-term debt securities by imposing different credit rating […]