Firms engaging in equity crowdfunding will not require a prospectus or an investment statement
Report provides global overview on equity crowdfunding
There is the potential for entrepreneurs to to shift to jurisdictions which embrace crowdfunding
Companies allowed to raise $150,000 twice per year; investors limited to risking $1,500 per offering
The financial services sector, investor advocates and those supportive of crowdfunding have a variety of concerns
Investors questions prompt cancellation
FAIR Canada says it strongly opposes allowing unregulated portals to facilitate equity crowdfunding trades and payments
FCA proposing to revise trules to ensure investors must be informed of risks, and be able to withstand possible losses
Startup companies would be able to sell stock over the Internet to small-time investors
Investors would be limited to making $1,500 investments