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CSA Adopt Nationally Harmonized Crowdfunding Registration and Prospectus Exemptions

  • Securities - CSA Image

Jul 05, 2021

New CSA rules will provide an exemption to prospectus requirements for start-ups distributing securities through an online funding portal.

  • National Instrument 45-110 is intended to facilitate securities crowdfunding for start-ups and early stage issuers on a national basis.
  • New exemptions will include a prospectus exemption, as well as an exemption from the dealer registration rules for funding portals.
  • National Instrument 45-110 will replace the local exemption orders currently in force on a province-by-province basis.
  • Assuming Ministerial approvals are obtained, the new national instrument will take effect on September 21, 2021.

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