Canadian securities regulators adopt National Instrument 45-110 Start-Up Crowdfunding Registration and Prospectus Exemptions
Published on:
Aug 05, 2021
The Canadian Securities Administrators (CSA) published a new regulation that provides a harmonized national framework for securities crowdfunding for start-ups and early-stage businesses. National Instrument 45-110 Start-up Crowdfunding Registration and Prospectus Exemptions (NI 45-110) provides:
- issuers with an exemption from prospectus requirements if distributing eligible securities through online funding portals (portals), and
- certain portals with an exemption from dealer registration requirements in facilitating such distributions.