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.
Start-up Crowdfunding Exemption
Multilateral CSA Notice 45-319 including the blanket order (pdf - 324 KB)This link will open in a new windowUpdated on 30 June 2016"Multilateral, CSA, Notice, 45-319, Amendments, Start-up, Crowdfunding, Registration, Prospectus, Exemptions"
Securities Crowdfunding Guide for Businesses (pdf - 435 KB)This link will open in a new windowUpdated on 6 July 2016Start-up, crowdfunding, guide for businesses
Securities Crowdfunding Guide for Funding Portals (pdf - 231 KB)This link will open in a new windowUpdated on 6 July 2016Start-up, Crowdfunding, Guide for Funding Portals