OSC to seek public feedback on crowd-funding ideas in early 2014

The Ontario Securities Commission (OSC) announced that it intends to publish in the first quarter of 2014 new capital raising prospectus exemptions for a 90-day public comment period. Among these is a crowd-funding exemption, together with a registration framework for online funding portals. The OSC said it "has a responsibility to consider whether our regulatory framework supports efficient capital formation and contributes to Ontario’s economic growth." Provincial regulators have already granted a two-year approval to the operation of impacting investing portal SVX, sponsored by MaRS Discovery District, which was launched in September.

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