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2021-08-05

Amendments to Policy Statement to Regulation 45-108 respecting Crowdfunding

The regulator amended Policy Statement to Regulation 45-108 respecting Crowdfunding to align with Regulation 52-112. The update requires issuers disclosing non-GAAP financial measures in crowdfunding offering documents to refer to the specific requirements set out in Regulation 52-112. This change ensures that crowdfunding disclosures regarding financial measures comply with established non-GAAP disclosure standards.

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Autorite des marches financiers Quebec

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AMENDMENTS TO POLICY STATEMENT TO REGULATION 45-108 RESPECTING CROWDFUNDING

  1. Section 16 of Policy Statement to Regulation 45-108 respecting Crowdfunding is amended by replacing the last paragraph with the following: “Non-GAAP financial measures and other financial measures – An issuer that intends to disclose financial measures that are subject to Regulation 52-112 respecting Non-GAAP and Other Financial Measures Disclosure (insert reference), including in its crowdfunding offering document, should refer to the requirements set out in that Regulation.”.
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