Released on October 7, 2013
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) is seeking public input on the proposed Saskatchewan Equity Crowdfunding Exemption, which is intended to fill the fundraising gap for start-ups and small businesses in the province.
The current rules for selling securities like shares, limited partnership units and promissory notes are believed to be expensive, complicated and time consuming for small businesses or start-ups.
“The Saskatchewan Equity Crowdfunding Exemption is a way to help small businesses and start-ups raise capital online, while still protecting the public interest by placing conditions on this exemption that limit the amount of money individual investors can lose,” FCAA Chair and CEO Dave Wild said. “At the same time, this is a unique opportunity for people who are new to investment to gain some experience.”
To participate in this consultation, visit www.fcaa.gov.sk.ca/SKEC_Consultation.
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For more information, contact:
Daniela Machuca
Financial and Consumer Affairs Authority
Regina
Phone: 306-798-4160
Email: daniela.machuca@gov.sk.ca