{"id":2399,"date":"2020-11-12T11:54:00","date_gmt":"2020-11-12T11:54:00","guid":{"rendered":"https:\/\/cfacanada.org\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/"},"modified":"2024-03-20T14:53:35","modified_gmt":"2024-03-20T14:53:35","slug":"fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives","status":"publish","type":"post","link":"https:\/\/cfacanada.org\/fr\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/","title":{"rendered":"FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives"},"content":{"rendered":"    <div class=\"hero hero--without-image hero-banner-block alignfull\">\n        <div class=\"hero__wrapper container\">\n            <div class=\"row justify-content-between align-items-center g-0\">\n                <div class=\"d-flex col-12\">\n                    <div class=\"hero__content\">\n                        <h1 class=\"hero__title\">FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives<\/h1>\n                                                                                            <\/div>\n                <\/div>\n                            <\/div>\n        <\/div>\n    <\/div>\n\n\n\n\n\n<h2 class=\"wp-block-heading\">Download PDF:<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.cfasociety.org\/canada\/Comment%20Letters\/2020\/FCSC%20Consultation%20on%20Community%20Economic%20Development%20Corporations.pdf\"><a href=\"https:\/\/www.cfasociety.org\/canada\/Comment%20Letters\/2020\/FCSC%20Consultation%20on%20Community%20Economic%20Development%20Corporations.pdf\">FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives<\/a><\/a><\/p>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Letter Summary:<\/h2>\n\n\n\n<p>This local rule in New Brunswick provides a registration and prospectus exemption for Community Economic Development Corporations (\u00ab\u00a0CEDCs\u00a0\u00bb) and cooperatives which are registered under the Small Business Investor Tax Credit Act in the province, and the proposed replacement rule is intended to reflect the province\u2019s new Cooperatives Act. The new rule and companion policy will require a new risk acknowledgement form and exempt distribution form with information relevant for a distribution of securities by a CEDC, and will also deem CEDCs to be market participants, allowing the regulator to conduct compliance reviews. The mandated form of offering document would also be amended to include additional<\/p>\n\n\n\n<p><br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Overview of the Council&rsquo;s Comments:<\/h2>\n\n\n\n<p>The CAC are supportive of measures taken to try to assist small and emerging companies to finance their growing operations without compromising investor protection and are also strong supporters of harmonizing Canada\u2019s registration and prospectus exemptions across provincial jurisdictions for ease of use and common understanding by issuers and investors. We support the proposition that the same disclosure forms for various offerings (such as syndicated mortgages or CEDCs) should be utilized and then modified as needed to reflect the unique nature of the offering. The CAC does have some concerns about the potential lack of audited disclosure on the financial condition of the issuers utilizing these exemptions and we believe it is important that the annual financial statements provided to the Commission and to investors be audited.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Download PDF: FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives Letter Summary: This local rule in New Brunswick provides a registration and prospectus exemption for Community Economic Development Corporations (\u00ab\u00a0CEDCs\u00a0\u00bb) and cooperatives which are registered under the Small Business Investor Tax Credit Act in the province, and the [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[164],"tags":[],"class_list":["post-2399","post","type-post","status-publish","format-standard","hentry","category-commission-des-services-financiers-et-des-services-aux-consommateurs-fcnb"],"acf":[],"featured_image_src":null,"author_info":{"display_name":"katie@sparkadvocacy.ca","author_link":"https:\/\/cfacanada.org\/fr\/author\/katiesparkadvocacy-ca\/"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives - CFA Societies Canada<\/title>\n<meta name=\"description\" content=\"The CAC are supportive of measures taken to try to assist small and emerging companies to finance their growing operations without compromising investor protection and are also strong supporters of harmonizing Canada\u2019s registration and prospectus exemptions across provincial jurisdictions for ease of use and common understanding by issuers and investors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cfacanada.org\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives - CFA Societies Canada\" \/>\n<meta property=\"og:description\" content=\"The CAC are supportive of measures taken to try to assist small and emerging companies to finance their growing operations without compromising investor protection and are also strong supporters of harmonizing Canada\u2019s registration and prospectus exemptions across provincial jurisdictions for ease of use and common understanding by issuers and investors.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cfacanada.org\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/\" \/>\n<meta property=\"og:site_name\" content=\"CFA Societies Canada\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-12T11:54:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-20T14:53:35+00:00\" \/>\n<meta name=\"author\" content=\"katie@sparkadvocacy.ca\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u00c9crit par\" \/>\n\t<meta name=\"twitter:data1\" content=\"katie@sparkadvocacy.ca\" \/>\n\t<meta name=\"twitter:label2\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cfacanada.org\\\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cfacanada.org\\\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\\\/\"},\"author\":{\"name\":\"katie@sparkadvocacy.ca\",\"@id\":\"https:\\\/\\\/cfacanada.org\\\/#\\\/schema\\\/person\\\/a8fc95d51265cf77f4cb4a4a64808ee9\"},\"headline\":\"FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives\",\"datePublished\":\"2020-11-12T11:54:00+00:00\",\"dateModified\":\"2024-03-20T14:53:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cfacanada.org\\\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\\\/\"},\"wordCount\":275,\"articleSection\":[\"Commission des services financiers et des services aux consommateurs (FCNB)\"],\"inLanguage\":\"fr-FR\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cfacanada.org\\\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\\\/\",\"url\":\"https:\\\/\\\/cfacanada.org\\\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\\\/\",\"name\":\"FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives - CFA Societies Canada\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cfacanada.org\\\/#website\"},\"datePublished\":\"2020-11-12T11:54:00+00:00\",\"dateModified\":\"2024-03-20T14:53:35+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/cfacanada.org\\\/#\\\/schema\\\/person\\\/a8fc95d51265cf77f4cb4a4a64808ee9\"},\"description\":\"The CAC are supportive of measures taken to try to assist small and emerging companies to finance their growing operations without compromising investor protection and are also strong supporters of harmonizing Canada\u2019s registration and prospectus exemptions across provincial jurisdictions for ease of use and common understanding by issuers and investors.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/cfacanada.org\\\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\\\/#breadcrumb\"},\"inLanguage\":\"fr-FR\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/cfacanada.org\\\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/cfacanada.org\\\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/cfacanada.org\\\/fr\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/cfacanada.org\\\/#website\",\"url\":\"https:\\\/\\\/cfacanada.org\\\/\",\"name\":\"CFA Societies Canada\",\"description\":\"Canadian investment values\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/cfacanada.org\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"fr-FR\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/cfacanada.org\\\/#\\\/schema\\\/person\\\/a8fc95d51265cf77f4cb4a4a64808ee9\",\"name\":\"katie@sparkadvocacy.ca\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/638496ca638254401e2c207b0517a4c1a34cd012253fbb3303df8ad62636c4f6?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/638496ca638254401e2c207b0517a4c1a34cd012253fbb3303df8ad62636c4f6?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/638496ca638254401e2c207b0517a4c1a34cd012253fbb3303df8ad62636c4f6?s=96&d=mm&r=g\",\"caption\":\"katie@sparkadvocacy.ca\"},\"url\":\"https:\\\/\\\/cfacanada.org\\\/fr\\\/author\\\/katiesparkadvocacy-ca\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives - CFA Societies Canada","description":"The CAC are supportive of measures taken to try to assist small and emerging companies to finance their growing operations without compromising investor protection and are also strong supporters of harmonizing Canada\u2019s registration and prospectus exemptions across provincial jurisdictions for ease of use and common understanding by issuers and investors.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cfacanada.org\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/","og_locale":"fr_FR","og_type":"article","og_title":"FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives - CFA Societies Canada","og_description":"The CAC are supportive of measures taken to try to assist small and emerging companies to finance their growing operations without compromising investor protection and are also strong supporters of harmonizing Canada\u2019s registration and prospectus exemptions across provincial jurisdictions for ease of use and common understanding by issuers and investors.","og_url":"https:\/\/cfacanada.org\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/","og_site_name":"CFA Societies Canada","article_published_time":"2020-11-12T11:54:00+00:00","article_modified_time":"2024-03-20T14:53:35+00:00","author":"katie@sparkadvocacy.ca","twitter_card":"summary_large_image","twitter_misc":{"\u00c9crit par":"katie@sparkadvocacy.ca","Dur\u00e9e de lecture estim\u00e9e":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cfacanada.org\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/#article","isPartOf":{"@id":"https:\/\/cfacanada.org\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/"},"author":{"name":"katie@sparkadvocacy.ca","@id":"https:\/\/cfacanada.org\/#\/schema\/person\/a8fc95d51265cf77f4cb4a4a64808ee9"},"headline":"FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives","datePublished":"2020-11-12T11:54:00+00:00","dateModified":"2024-03-20T14:53:35+00:00","mainEntityOfPage":{"@id":"https:\/\/cfacanada.org\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/"},"wordCount":275,"articleSection":["Commission des services financiers et des services aux consommateurs (FCNB)"],"inLanguage":"fr-FR"},{"@type":"WebPage","@id":"https:\/\/cfacanada.org\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/","url":"https:\/\/cfacanada.org\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/","name":"FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives - CFA Societies Canada","isPartOf":{"@id":"https:\/\/cfacanada.org\/#website"},"datePublished":"2020-11-12T11:54:00+00:00","dateModified":"2024-03-20T14:53:35+00:00","author":{"@id":"https:\/\/cfacanada.org\/#\/schema\/person\/a8fc95d51265cf77f4cb4a4a64808ee9"},"description":"The CAC are supportive of measures taken to try to assist small and emerging companies to finance their growing operations without compromising investor protection and are also strong supporters of harmonizing Canada\u2019s registration and prospectus exemptions across provincial jurisdictions for ease of use and common understanding by issuers and investors.","breadcrumb":{"@id":"https:\/\/cfacanada.org\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/#breadcrumb"},"inLanguage":"fr-FR","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cfacanada.org\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/cfacanada.org\/fcnb-proposed-repeal-and-replacement-of-local-rule-45-509-community-economic-development-corporations-and-cooperatives\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cfacanada.org\/fr\/"},{"@type":"ListItem","position":2,"name":"FCNB Proposed Repeal and Replacement of Local Rule 45-509 Community Economic Development Corporations and Cooperatives"}]},{"@type":"WebSite","@id":"https:\/\/cfacanada.org\/#website","url":"https:\/\/cfacanada.org\/","name":"CFA Societies Canada","description":"Canadian investment values","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cfacanada.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"fr-FR"},{"@type":"Person","@id":"https:\/\/cfacanada.org\/#\/schema\/person\/a8fc95d51265cf77f4cb4a4a64808ee9","name":"katie@sparkadvocacy.ca","image":{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/secure.gravatar.com\/avatar\/638496ca638254401e2c207b0517a4c1a34cd012253fbb3303df8ad62636c4f6?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/638496ca638254401e2c207b0517a4c1a34cd012253fbb3303df8ad62636c4f6?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/638496ca638254401e2c207b0517a4c1a34cd012253fbb3303df8ad62636c4f6?s=96&d=mm&r=g","caption":"katie@sparkadvocacy.ca"},"url":"https:\/\/cfacanada.org\/fr\/author\/katiesparkadvocacy-ca\/"}]}},"_links":{"self":[{"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/posts\/2399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/comments?post=2399"}],"version-history":[{"count":0,"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/posts\/2399\/revisions"}],"wp:attachment":[{"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/media?parent=2399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/categories?post=2399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfacanada.org\/fr\/wp-json\/wp\/v2\/tags?post=2399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}