There are six jurisdictions that offer the start-up crowdfunding exemptions: British Columbia, Saskatchewan, Manitoba, Québec, New Brunswick and Nova Scotia.  They are known as participating jurisdictions.

On 25 January 2016, a second crowdfunding exemption was made available when six jurisdictions implemented Multilateral Instrument 45-108 Crowdfunding (45-108 crowdfunding regime): Saskatchewan, Manitoba, Ontario, Québec, New Brunswick and Nova Scotia.


The exemptions allow businesses to sell securities without having to register with the FCNB, or file a prospectus, subject to a number of conditions. These new exemptions apply only to equity crowdfunding – they do not apply to donation-based crowdfunding (like Kickstarter or Indigogo) or other crowdfunding models.

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