Structural reforms to transform the Canadian capital-raising environment

Canada has developed a global reputation as the place to raise risk-tolerant capital for the purpose of discovering and developing mineral deposits. This reputation has been built over the course of more than one hundred years, along with the requisite institutions, regulations and financing ecosystem.

There are indicators, however, that this unique ecosystem may be at risk. PDAC is undertaking research to better understand the threats and opportunities facing Canadian capital markets, with respect to financing venture issuers.

Based on this research, PDAC will develop a vision for the future that involves the adoption of major structural reforms to Canadian capital markets to sustain and enhance capital flows to pre-revenue companies that are the engines for growth in Canada’s economy.

PDAC views the establishment of the Cooperative Capital Markets Regulatory System as a significant opportunity to take the first steps towards transformational change in how venture issuers raise capital. 

Read our press release/op-ed on the announcement (Fixing a Fragmented Regulatory System) that was submitted to the Private Capital Markets magazine, as well as a featured story in PDAC's Core magazine (Towards a Common Regulator: The Capital Markets Regulatory System). 

We encourage our members to provide comments on the revised Capital Markets Act (CMA) and the initial regulations. You can provide comments directly to the new Capital Markets Regulatory Authority (CMRA) here

Helpful Resources

PDAC's Submission on the Revised Capital Markets Act (December 2015)

PDAC welcomes progress made toward transition to the Cooperative Capital Markets Regulatory System (August 2015)

Consultation Draft- Provincial Capital Markets Act and Capital Markets Stability Act (December 2014)

Cooperative System – Key Asks (July 2015)

PDAC sends its view on national regulator to Crawford Panel (2005)