On July 1, 2014, most sections of Canada’s new anti-spam legislation (“CASL”) will come into effect. Among other things, there are important new requirements for continuing to use e-mail and other electronic messages for “commercial” purposes. In most cases, businesses and other persons disseminating such “commercial electronic messages” will need the consent of the recipient.
On March 20, 2014 the British Columbia Securities Commission (BCSC), along with the securities regulators in Québec, New Brunswick, Manitoba and Nova Scotia, published a Notice and Request for Comment for a proposed a new exemption from the prospectus requirements to enable private companies to raise smaller amounts of money from members of the public over the internet.
In Canada, securities regulation consists of three main components: prospectus requirements, registration requirements and (for reporting issuers such as publicly listed corporations) continuous disclosure requirements. The prospectus requirements and registration requirements apply to all trades of securities, whether the trade involves securities of a public entity or a private entity. (For more information on prospectus [...]