From the desk of CATA's Crowdfunding Regulatory Advocate, Andrea Johnson: OSC says it will re-open its review of prospectus exemptions: Door Open for Crowdfunding in Ontario
June 7, 2012

The Ontario Securities Commission (OSC) has just announced that it will re-open its review of prospectus exemptions.  In the OSC's detailed staff notice, they state that the OSC will: 

 

"Consider developments in other jurisdictions relevant to capital raising in the exempt market.  We will consider the securities regulatory regime for capital raising in the exempt market in other jurisdictions.  In particular, we will consider developments in the U.S. with respect to capital raising contained in the Jumpstart Our Business Startups Act (or the JOBS Act)."

 

The OSC also says that it plans to establish an ad hoc advisory committee.  CATAAlliance will be seeking to secure representation on this committee.