Canadian securities regulators eye rules on crowdfunding - Reuters
Canada's provincial securities regulators are looking to extend their jurisdiction to cover crowdfunding, the grass-roots form of fundraising being pursued by a growing number of start-ups and small ventures, reports Reuters. The Canadian Securities Administrators , the council of provincial regulators, said on Thursday they aim to strike a balance between making more cash available to promising start-ups and ensuring investors aren't stretching beyond their means to invest in risky bets. The proposals, which are open to public comment until the end of May, include a framework to manage the growth of online crowdfunding sites pitching private opportunities to investors who might then decide to invest between C$20,000 (US$17,900) and C$150,000. The Ontario Securities Commission, the biggest of the country's provincial regulators, said the proposed amendments would require changes to its definition of so-called accredited investors, who can legally invest without seeing a prospectus.
