Securities crowdfunding

Crowdfunding is a process through which an individual or a business can raise small amounts of money from a large number of people, typically via the Internet. The objective is to raise sufficient funds in order to carry out a specific project.

Securities crowdfunding is when a business raises funds by issuing debt securities (such as bonds) or securities giving the right to participate in future profits (such as shares). In Québec, issuing securities offered to the public is subject to legal and financial obligations.

The Autorité des marchés financiers has adopted registration and prospectus exemptions that allow companies to use securities crowdfunding to raise capital, subject to certain conditions.

Information

Questions?

Contact an AMF Information Centre agent.

End of the Information

List of equity crowdfunding portals

Start-up Crowdfunding Exemption

Regulation 45-110 respecting Start-up Crowdfunding Registration and Prospectus Exemptions (pdf - 197 KB)This link will open in a new windowUpdated on September 21, 2021Official version of Regulation 45-110 in force since September 21, 2021.

CSA Notice of Publication: Regulation 45-110 respecting Start-up Crowdfunding Registration and Prospectus Exemptions (pdf - 141 KB)This link will open in a new windowUpdated on June 21, 2021Crowdfunding.

45-108 Regulation

Regulation 45-108 respecting Crowdfunding

Policy Statement to Regulation 45-108

CSA Notice of Publication of Regulation 45-108 respecting crowdfunding(pdf - 202 KB)This link will open in a new windowUpdated on November 5, 2015Crowdfunding

Start-up Crowdfunding Guide

CSA Staff Notice 45-329: Guidance for using the start-up crowdfunding registration and prospectus exemptions (pdf - 484 KB)This link will open in a new windowUpdated on June 21, 2021Crowdfunding

References

Knowledgeable investors: Crowdfunding – The handy guide