CSA Adopt Nationally Harmonized Crowdfunding Registration and Prospectus Exemptions
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.