Chair & CEO of Financial & Consumer Affairs
Dave Wild visited VendAsta in August
Now they’re looking for feedback
● They’ve created a policy framework
● Asking for feedback
● Next step is put into law
What does this mean?
● Last chance to give the government input
● We want them to make the right choices
● Affects entrepreneurs and developers who
want to raise money $
● Example: raise a bit of money to build a
* Can still raise money, but cannot give out equity in return
Policy at a glance
● Businesses will be able to make two, six-month offerings of $150,000 each
during a year.
● The business cannot be a reporting issuer or an investment fund and
cannot offer derivative type securities.
● Businesses must give FCAA notice of their intention to issue an offering 10
business days before posting online.
● The business cannot charge investors a commission or other amounts.
● Both the business and the investor must be located in Saskatchewan
● The business must report their sales to FCAA within 30 days of the
● No person may invest more than $1,500 in an offering.
● There are no fees payable to the FCAA for the offering.
and give you input to the gov’t!
Please share this!
Deadline & More Info
● Feedback Deadline: Nov. 6, 2013
● More info: http://www.fcaa.gov.sk.ca/SKEC_Consultation
● Presentation at VendAsta’s Ideas on Tap:
○ Part 1: http://www.youtube.com/watch?v=EXzyqIxeoyU
○ Part 2: http://www.youtube.com/watch?v=zo2wtZoDeo8