Funding structure billed as ‘starter kit’ for small business, but some fear it opens door to fraud
Last week, the B.C. Securities Commission posted for public comment a proposed set of Internet crowdfunding rules that would exempt companies from the strict requirements of filing a detailed prospectus that listed companies must abide by.
The rules would allow companies to raise $150,000 per capital campaign, with a limit of two campaigns per year, and cap investor contributions at $1,500 per person per campaign, similar to the exemption Saskatchewan put in place in December.
Derrick Penner – Vancouver Sun – April 2, 2014.