Changes in crowdfunding rules to increase access for issuers

The amendment now permits an investment of up to $5,000

Changes in crowdfunding rules to increase access for issuers
Start-ups and early-stage issuers in British Columbia will now be able to access investors in Alberta with the changes in crowdfunding rules.

The British Columbia Securities Commission (BCSC) announced some adjustments in the crowdfunding exemptions to accommodate those issuers who would want to extend their campaigns to investors in Alberta. The amendments also laid out the permission to increase the investment amount to $5,000, from only $1,500 in the current policy.

BCSC executive director Peter Brady explained that the said modifications allow British Columbia to harmonise the crowdfunding regime, providing startups with access to a wider pool of investors.

"The BCSC consults extensively with B.C. technology industry businesses and stakeholders, and we're proud that those consultations are yielding real results," he said.

In the BCSC's 2017 Tech Survey, the respondents within the crowdfunding realm cited harmonisation across jurisdictions as the biggest concern.

In the survey, the respondents suggested increasing the investment amount written under the current crowdfunding rules.

"We value the insights of fintech businesses and stakeholders, and we believe that these crowdfunding amendments show our dedication to working with industry," Brady said.

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