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ARTICLE · 16 APRIL 2012

Crowdfunding – Could It Help Finance Innovation In Canada?

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On March 22, 2012, the US Senate approved legislation amending US securities laws to permit "crowdfunding" to allow entrepreneurs to raise capital over the internet.

CanadaFinance and Banking
David Thring
David Thring
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On March 22, 2012, the US Senate approved legislation amending US securities laws to permit "crowdfunding" to allow entrepreneurs to raise capital over the internet. This legislation, known as the Jump Start Our Business Start-Ups (JOBS) Act, was first passed by the House of Representatives on March 8, 2012. It has now gone back to the House for approval of minor amendments introduced by the Senate. President Obama supports the legislation, so all indications are that it will soon become law in the US. This raises questions for Canadian policy makers: should "crowdfunding" be permitted in Canada? Could it be a new source of capital for small and medium business enterprises (SMEs) to promote innovation?

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