Financial and Consumer Services Commission

The Financial and Consumer Services Commission (FCNB) has published a request for comment on a proposed exemption regime that would permit crowdfunding to operate in New Brunswick. In other jurisdictions crowdfunding is emerging as a viable method for start-ups and SMEs to raise capital. 

FCNB is seeking your comments on the requirements that are necessary to maintain an appropriate level of investor protection and regulatory oversight while establishing a regime that is effective for issuers at various stages of their development.

Along with the crowdfunding exemption proposals, FCNB has published important proposed changes to the way the offering memorandum (OM) exemption is used to raise capital and the amounts of capital that can be raised from an individual investor when relying on the OM exemption. 

We are inviting comments on the proposed exemptions on or before June 18, 2014.

Proposal: http://www.nbsc-cvmnb.ca/nbsc/uploaded_topic_files/45-108-CSAN-2014-03-20-Ev2.pdf

CONSULTATION

We invite industry stakeholders to comment on this issue. If you would like more information or wish to submit your comments, please contact:

Susan Powell
Deputy Director, Securities
(506) 643-7697 | susan.powell@fcnb.ca