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OSC Staff Notice 45-711 Extension of Consultation Period

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OSC Staff Notice 45-711 Extension of Consultation Period
OSC Staff Consultation Paper 45-710
Considerations for New Capital Raising Prospectus Exemptions


January 24, 2013

On December 14, 2012 the Ontario Securities Commission (OSC) published a consultation paper which describes four concept ideas for possible new prospectus exemptions in Ontario (the Consultation Paper) and seeks public feedback on these ideas.

The concept ideas in the Consultation Paper were developed as part of the OSC’s broadened exempt market review, and are focused on fostering capital raising by start-ups and small and medium sized enterprises without compromising investor protection. A copy of the Consultation Paper can be found on the OSC website at the following link:

The comment period is scheduled to close on February 12, 2013. We have received feedback from several stakeholders that due to the breadth and complexity of the concept ideas, it would be beneficial for stakeholders to have additional time to review the Consultation Paper and prepare comments. We therefore are extending the comment period from February 12, 2013 to March 8, 2013.

Please refer any questions to:

Jo-Anne Matear, Manager Corporate Finance Branch Ontario Securities Commission
(416) 593-2323

Elizabeth Topp, Senior Legal Counsel Corporate Finance Branch Ontario Securities Commission (416) 593-2377



The Exempt Market Dealers Association of Canada (EMDA) is preparing our response to securities regulators and we want your feedback. Please complete EMDA survey by February 15, 2013 to ensure we can include your input in our comment letter.


To engage our respective members in a discussion on the key issues, and to help prepare our respective responses to regulators, CVCA and EMDA have joined together to bring you this unique event: CROWDFUNDING in the CANADIAN CONTEXT that will take place on February 12, 2013. You can register online on our website: