In Canada, a number of provinces looking at it,
including Quebec, Alberta and Ontario.
The Ontario Securities Commission is considering new
rules to allow small and medium-sized companies to raise money from the public
via the Internet, up to $2,500 for a single investment.
The securities commission notes these types of
businesses are major job creators in Canada's economy and could provide a new
source of capital, but said there is cause for concern over raising capital on
the Internet.
"The concerns include the risk that crowdfunding
will be subject to fraud and abuse," the OSC said in a recent report.
The OSC also said it could require a two-day period
cooling off period to let investors reconsider and get their money back. Full text
