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Nov 20, 2020
Calgary – The Alberta Securities Commission (ASC) and the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) are seeking input on a proposed new prospectus exemption designed to provide greater access to capital for Alberta and Saskatchewan businesses and broaden investment opportunities for Alberta and Saskatchewan investors.
“As our provinces are dealing with the economic impact of the pandemic, we are looking for new ways to better facilitate access to capital, while still protecting investors,” said Roger Sobotkiewicz, Chair and CEO of the FCAA. “Efforts are being taken to adapt our existing industries and diversify our economies. By innovating as regulators we can help support the growth of the innovation economy,” added Stan Magidson, Chair and CEO of the ASC.”
The proposed new self-certified investor prospectus exemption would allow investment by investors who certify to having certain financial and investing experience and education, and acknowledge certain investment considerations and risks. To reduce the risks to investors, investments would be limited in a 12-month period to $10,000 in any one business and $30,000 across multiple businesses.
Details of the proposal are set out in CSA Multilateral Notice 45-327 Proposed Prospectus Exemption for Self-Certified Investors available on the websites of the ASC and the FCAA. The comment period for the proposed new prospectus exemption is open until December 23, 2020.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For Investor inquiries, please refer to your respective securities regulator. You can contact them here.
For media inquiries, please refer to the list of provincial and territorial representatives below or contact us at email@example.com.
For more information:
Theresa Schroder Senior Advisor, Communications firstname.lastname@example.org
Shannon McMillan Financial and Consumer Affairs Authority of Saskatchewan 306-798-4160