From the Regulators

Regulator looking for feedback from stakeholders

Securities regulators in Nova Scotia are to host public information sessions to explain proposed new rules that would allow equity crowdfunding.

The Nova Scotia Securities Commission (NSSC) said Thursday that will be holding public information sessions on crowdfunding at community colleges in the province.

"These sessions are to provide Nova Scotians with information on the proposed securities rules that will allow individuals and companies to crowdfund business projects using internet portals and to seek feedback on the proposed rules," it notes.

Back on March 20, the NSSC proposed two possible new prospectus exemptions to allow crowdfunding, which are being considered by several other provinces.

"The Crowdfunding Exemption and the Start-Up Exemption are designed to meet the needs of start-ups and small and medium sized enterprises (SMEs) at different stages in growth while providing a number of investor protection measures," it says.

The NSSC says that it is looking for feedback from business owners, prospective entrepreneurs, industry players, and community members who are interested in raising capital at these information sessions. The deadline to comment on the proposals is June 18.