FINANCING: LEGISLATION-Push on to relax rules around crowdfunding-GRANT BUCKLER-Special to Globe and Mail Update: CATA Advocacy Comments
March 16, 2012
The push is on south of the border to relax the rules around crowdfunding – a new way of raising smaller individual amounts of money from a larger pool of investors through the Internet and social media.
A second vote by the U.S. House of Representatives on legislation supporting the concept that has helped many charitable organizations and some startup businesses find cash has already taken place, and the Senate is the next stop. In Canada, a national industry group has taken up the cause to promote the concept.