News Release

Vancouver – The B.C. Securities Commission has expanded its Web-based, interactive system that allows companies raising money from investors to comply more easily with securities laws.

“In recent years, over $7-billion a year have typically been raised by companies with a British Columbia connection through private placements,” said BCSC Executive Director Steve Wilson. “Private placements, also known as exempt distributions, are an efficient and effective method for companies to raise capital without using a stock exchange and we are reducing the paperwork involved by enabling them to file their reports to us online.”

Companies raising money from investors in B.C. by relying on the prospectus and registration exemptions in provincial securities laws must file a report (45-103F4) with the commission. This report details how much a company is raising, what exemption it is relying on to do so, and what type of securities it is selling to investors. This information allows the commission to monitor private placements and track the capital raising activity in the province. (The commission does not formally review or evaluate the filings.)

With the commission’s launch of its new e-filing function, companies can now report their capital-raising distributions via the commission’s website. They can also make payment, and track and manage their reports online. This speeds up the process, eliminates paper filings, and reduces costs. The online service is an expansion of the BCSC’s e-services system launched in March this year to provide industry and their advisors with securities regulatory services via the Internet.

“Part of our mission at the commission is to help foster a dynamic and competitive securities industry that provides investment opportunities and access to capital,” said Wilson. “Part of how we do this is by continually improving our services to industry. This e-filing system is another innovation that we believe will help companies raising money in B.C. comply with our rules more quickly and easily by providing them with online access to their documents and filings.”

The commission’s e-filing function is accessible through the e-services link on the BCSC website (www.bcsc.bc.ca). For help in using the e-filing function, please contact Christine Zenith, senior filings administrator, 604-899-6551 or czenith@bcsc.bc.ca.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province.