Saskatchewan Getting Ready To Legalize Equity Crowdfunding

On October 7, 2013, the Saskatchewan Financial and Consumer Affairs Authority (the FCAA) published a framework for a proposed Saskatchewan-only equity Crowdfunding exemption¹ (the Proposed Exemption) and requested public feedback with a comment period ending on November 6, 2013. Although the FCAA originally published a concept equity Crowdfunding proposal in July 13, 2013, it has now been fine-tuned with the publication of the Proposed Exemption. The purpose of the Proposed Exemption is to help bridge the funding gap for start-ups and entrepreneurs while adequately protecting investors. If implemented, the FCAA stated the Proposed Exemption would have a three-year sunset clause when it expires.