peter brady executive director british columbia securities ...€¦ · peter brady executive...
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![Page 1: Peter Brady Executive Director British Columbia Securities ...€¦ · Peter Brady Executive Director British Columbia Securities Commission . Overview BC Capital Markets Update CRM2](https://reader034.vdocuments.us/reader034/viewer/2022042209/5ead3fb6742a8324771582be/html5/thumbnails/1.jpg)
IIROC FAS Conference 2017
Peter Brady Executive Director British Columbia Securities Commission
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Overview
BC Capital Markets Update
CRM2 Research Results
CSA Policy & Systems Initiatives
FinTech
Cooperative Capital Markets Regulator Update
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Overview of Amounts Raised*
0.0
5.0
10.0
15.0
20.0
25.0
2014 2015 2016
In B
illio
ns
$ BC Companies and
IFs – Private Placement Market
BC Companies – Public Market
Non-BC Companies and IFs – Private Placement Market
BC IFs – Public Market
*Includes amounts raised by BC companies in BC and elsewhere in the public market and private placement market and by non-BC companies in BC private placement market.
For calendar years 2014, 2015, & 2016 (from BCSC data)
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$4.0BPublic companies
$11.72B Non-BC Companies
$20.62B All companies
$9.34 BC companies
20.6B
Overview of Amount BC Companies Raised in Private Placement Market in 2016 in BC and Elsewhere
$4.0BPublic companies
$11.72B Non-BC Companies
$20.62B All companies
$9.34 BC companies
20.6B
$20.2B
BC Companies
$6.0B
Public Companies
$0.5B
TSX Companies
$1.8B
TSX-V Companies
$0.3B
CSE Companies
$14.2B
Private Companies
$3.4B Other Public Companies
For 2016 calendar year (from BCSC filings as of April 21, 2017)
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Amount Raised by BC Private Companies* in Private Placement Market by Industry in BC and Elsewhere
*Private companies that exclude investment funds. **Includes paper & forest products, junior industry, oil & gas, etc.
For calendar years 2014, 2015, & 2016 (from BCSC filings as of April 21, 2017)
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2014 2015 2016
In M
illio
ns
$
Mortgage Investment Companies
Mining & Exploration
Tech & Bio Tech
Other**
Real Estate
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Number of BC Private Companies* Raising Money and Amount Raised in BC Private Placement Market by Exemption
For calendar years 2014, 2015, & 2016 (from BCSC filings as of April 21, 2017)
*Includes large investment funds, other private funds based in BC, and other BC private companies. **Other exemptions include start-up crowdfunding, asset acquisition, shares for debt, distribution of securities outside BC, etc.
Number of Companies Amount Raised
0
50
100
150
200
250
2014 2015 2016
Offering Memorandum Accredited Investor Family, Friends, & Business Associates $150,000 Minimum Other***
0
2,000
4,000
6,000
8,000
10,000
12,000
2014 2015 2016
Nu
mb
er o
f C
om
pa
nie
s
In M
illio
ns
$
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Amount Raised by BC Public Companies in Private Placement Market by Industry in BC and Elsewhere
For calendar years 2014, 2015, & 2016 (from BCSC filings as of April 21, 2017)
*Includes investments, finance, real estate, transportation, utilities, etc.
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
2014 2015 2016
Mining & Exploration
Oil & Gas
Tech & Bio-Tech
Other*
In M
illio
ns
$
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Number of BC Public Companies Raising Money and Amount Raised in BC Private Placement Market* by Exemption
For calendar years 2014, 2015, & 2016 (from BCSC filings as of April 21, 2017)
*Includes only money raised in BC under BC exemptions. **Includes existing security holders, investment dealer, asset acquisition, shares for debt, etc.
Number of Companies Amount Raised
0
100
200
300
400
500
600
2014 2015 2016
0
100
200
300
400
500
600
700
2014 2015 2016
Nu
mb
er o
f C
om
pa
nie
s
Family, Friends, & Business Associates Accredited Investor Other** $150,000 Minimum Amount
In M
illio
ns
$
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Public Financings on TSX-V by Dealer Location
For calendar years 2014, 2015, & 2016 (from TSX-V and IIROC data)
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1
2014 2015 2016
0
5
10
15
20
25
30
35
2014 2015 2016
Dealer by Province
Alberta BC Ontario Quebec
Nu
mb
er o
f U
nd
erw
rite
rs
In B
illio
ns
$
Amount Raised by Dealer by Province
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BCSC CRM2 Research Results
Longitudinal study
Unique
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Less Confidence and Investment Knowledge
52%
Improved Fee Understanding
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More Confidence and Investment Knowledge
11%
16%
25%
Took New Action
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Never Received CRM2 Report Nov 2016 – June 2017*
0
30
60
90
Nov-16 Jun-17
Relationship with Advisor Communications with Advisor
0
30
60
90
Nov-16 Jun-17
% S
ati
sfie
d
% S
ati
sfie
d
*Results for those who do not recall receiving their CRM2 reports.
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CSA CRM2/POS Research
5 year project
3-prong focus
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Status of CSA Consultation Paper 33-404
IIROC at table
Topics under consideration
Best Interest Standard?
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Status of CSA Consultation Paper 81-408
Purpose
Consultation process
Alternatives
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National Filing Systems Rebuild Project
Scope of project
Benefits
Status of work
Timing
NSRP SEDAR
NRD
SEDI
NRS CTO
DL
DDS
BC EDER and ERA
ON EDER and ERA
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FinTech
CSA Sandbox
Types of FinTech
Initial Coin Offerings
Not just startups
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Cooperative Capital Markets Regulatory System Update
Support for government
Status
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Questions?