Draft Regulation to amend Regulation 45-108 respecting Crowdfunding
The regulator issued a draft regulation to amend Regulation 45-108 respecting Crowdfunding by modifying Form 45-108F1. The amendment updates Schedule A to require issuers disclosing non-GAAP financial measures in crowdfunding offering documents to comply with Regulation 52-112. This change ensures that specific financial disclosures align with the requirements set out in the referenced non-GAAP disclosure regulation.
REGULATION TO AMEND REGULATION 45-108 RESPECTING
CROWDFUNDING
Securities Act
(chapter V-1.1, s. 331.1, par. (1))
Form 45-108F1 of Regulation 45-108 respecting Crowdfunding (chapter V-1.1,
r. 21.02) is amended by replacing, in Schedule A and under the heading “Instructions
related to financial statement requirements and the disclosure of other financial
information”, the last heading and 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) in its crowdfunding offering document should refer to the requirements
set out in that Regulation.”.
This Regulation comes into force on (indicate here the date of coming into force of
this Regulation).