CFA Society | Jacques Sayegh | Nov 8, 2013

Overview

A controversial financing movement called equity Crowdfunding is the latest manifestation within global capital markets of the social and economic interactions which the internet has spawned. Crowdfunding is the collective effort of individuals, usually online, that funds the activities of other people and organizations.  This development is where securities law meets technology: as investors demand the democratization of investments by buying securities over the internet. Is equity Crowdfunding an innovative start-up financing technique?  Or is it an unconscionable retreat from a century of progressive investor protection?  What should be considered in terms of regulation?

Topics Include

• Potential risks and benefits of crowdfunding to investors
• Fundamentals of equity crowdfunding
• Regulatory developments in equity crowdfunding in North America and Globally
• The evolution of crowdfunding, predictions and prospects for the future

Speaker Bios

Craig Asano, HBA
Founder and Executive Director
National Crowdfunding Association of Canada

Craig Asano is the Founder and Executive Director of the National Crowdfunding Association of Canada (NCFA Canada), a national not-for--profit organization.   He has 15 years of experience as a marketing strategist, software technologist and start-up entrepreneur in technology, finance, manufacturing and real estate sectors. Craig is a leader, advocate and development professional of interactive web, data, CRM, campaign management, business intelligence and new venture development projects. He is actively involved in developing the Canadian Crowdfunding industry at a grass-roots level connecting with industry stakeholders, leaders and key participants across the country.

Brian P. Koscak, BA, CIP., LLB, JD. LLM
Chairman
Exempt Market Dealers Association of Canada

Brian is a Partner at the law firm of Cassels Brock & Blackwell LLP where he practices in the area of corporate and securities law. Brian is one of Canada’s leading authorities on equity Crowdfunding.   He is a member of the Ontario Securities Commission’s Exempt Market Advisory Committee which is considering new ways to raise capital in Ontario, including  equity Crowdfunding. Brian has recently published the chapter on equity Crowdfunding in Canada that is part of an international publication sponsored by the European Crowdfunding Network that sets out the equity Crowdfunding frameworks in 25 countries that was published in November 2013.

Marian Passmore, LLB, MA
Associate Director
Canadian Foundation for Advancement of Investors’ Rights

Marian Passmore is Associate Director at the Canadian Foundation for Advancement of Investor Rights (FAIR Canada). Prior to joining FAIR Canada, she was associate director in the Regulatory Affairs Group at Advocis, The Financial Advisors Association of Canada, where she was involved in many policy issues facing the financial services sector. Marian conducted research and drafted submissions to regulators and governments, participated in industry working groups and provided policy support for or participated in meetings with regulators and government representatives.   Marian is a lawyer who articled and practiced litigation at Osler, Hoskin & Harcourt LLP and worked in-house at Ernst & Young LLP’s legal department as Legal Counsel where she had a litigation management role including defending professional negligence actions.

James E. A. Turner, BA, LLB
Vice-Chair
Ontario Securities Commission

James Turner brings over 30 years of legal experience, specializing in corporate, securities, mergers and acquisitions and corporate governance matters to his role as Vice-Chair. Prior to joining the Commission, James was a senior partner with Torys LLP where he advised numerous public companies and boards of directors in connection with governance matters, fiduciary duties, public takeover bids and mergers and acquisitions. James is a former General Counsel of the Ontario Securities Commission (1987-88). He is recognized internationally as a leading practitioner in capital markets, mergers and acquisitions and securities law.

Guest Moderator

Douglas Cumming, JD, PhD, CFA
Professor of Finance and Entrepreneurship
Ontario Research Chair, Schulich School of Business, York University

Douglas Cumming’s research interests include venture capital, private equity, hedge funds, entrepreneurship, and law and finance.  He is a Co-Editor of Entrepreneurship Theory and Practice, and has been a guest editor for many top journals. He has published over 90 articles in leading refereed academic journals in finance, management, and law and economics. He is the coauthor of Venture Capital and Private Equity Contracting (Elsevier Academic Press, 2009), and Hedge Fund Structure, Regulation and Performance around the World (Oxford University Press, 2013).  He is the Editor of the Oxford Handbook of Entrepreneurial Finance, the Oxford Handbook of Private Equity, and the Oxford Handbook of Venture Capital

Who Should Attend

The presentation will be of interest to professionals engaged in a wide range of practice areas including issuers, exempt market dealers, investment bankers, angel investors and venture capital investors, investment counselling and private wealth managers, portfolio managers and securities regulation and compliance professionals.

Register for this event

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