The Canadian laws will be a game changer for the way money is raised in Canada, and will revolutionize the financing equation across the country
Tampa, FL (PRWEB) March 23, 2014
Crowdfunding lawyer Kendall Almerico commented on Canada's new proposed regulatory scheme that would legalize equity crowdfunding for the first time in the country. The newly proposed laws will allow Canadian startup businesses to sell stock through an online funding portal so small companies can raise money from "the crowd" to start and grow their businesses. The proposed rules from the Ontario Securities Commission are available here.
"Canada has followed the model of the United States and other countries and will soon allow online equity crowdfunding as a means of raising capital," crowdfunding attorney Almerico says. "The Canadian laws will be a game changer for the way money is raised in Canada, and will revolutionize the financing equation across the country."
Almerico notes that while Canada’s securities regulators have proposed regulations that would allow small companies to raise capital and issue shares through crowdfunding websites, there are a significant number of restrictive conditions included to prevent crowdfunding from becoming a means of defrauding investors. "There are variations in details among each province," Almerico says, "For example, in Ontario investors will be able to invest a maximum of $2,500 in a single crowdfunding investment, and companies will be allowed to raise a total of $1.5 million a year."
Almerico notes that Canadian regulators have address concerns by investor advocates by adding protections such as requiring equity crowdfunding websites to register with regulators, do background checks on issuers, and disclosure important information.
"There will be a lot of compliance required," Almerico said. "And sites like FundHub will step in and help Canadians with the compliance and due diligence to they can use this incredible law to raise money for their businesses."
About Kendall Almerico
Kendall Almerico is a crowdfunding attorney and JOBS Act attorney with who is considered one of the top crowdfunding experts and influencers in the United States. In 2014, Mr. Almerico was named #17 on VentureBeat's Top 30 most influential leaders in the crowdfunding industry. Mr. Almerico and his crowdfunding websites have appeared in USA Today, Forbes, Washington Post, Washington Times, Huffington Post, the New York Daily News, Business Insider, Fox Business Network and hundreds of newspaper, blog, radio and television interviews including CNN, CBS, ABC, NBC, FOX and The Sean Hannity Show.
Mr. Almerico is CEO of Fund Hub (http://www.FundHub.Biz) a web site created by securities lawyers to provide compliance and due diligence services for broker-dealers, issuers, investors and equity crowdfunding portals in connection with Regulation D offerings, JOBS Act offerings and other securities offerings.
Mr. Almerico is also the CEO of ClickStartMe, a crowdfunding site that provides individuals and businesses with an easy-to-use website to raise funds through online crowd funding.
Mr. Almerico is also the founder of Crowd It Forward, a charity-based crowdfunding site that performs “Random Acts of Crowdfunding” and raises money for people in need through a 501(c)(3) charitable foundation.
Fund Hub (http://www.FundHub.Biz) provides compliance and due diligence services for broker-dealers, issuers, investors and equity crowdfunding portals in connection with Regulation D offerings, JOBS Act offerings and other securities offerings. Fund Hub combines securities industry expertise with state-of-the-art digital tools to affordably provide compliance services and assistance to those raising capital or investing in businesses. Fund Hub fills a significant need in the securities and private financing industry by allowing broker-dealers, investors and issuers to have an economical alternative to compliance service provided by traditional law firms or online companies without the securities industry expertise required for effective SEC compliance.
Kendall Almerico is available for interviews. Contact him at Media(at)FundHub(dot)Biz or call 813.410.4658.