ACCOUNTING & FINANCE
56 Overview of common EMD regulatory
filing deficiencies
By Stephen Warden
58 Single source for fair value measurement
under IFRS By Sean Du Plessis
M&A CORPORATE ADVISING
62 The difference a prepared Board can make
By Colin Walker and Romit Malhotra
ISSUERS & PRIVATE PLACEMENTS
64 The reel story – part one: how investing in
film may not be what you imagined
By William Santor
66 Turning green energy into green wealth:
how investing in solar energy can enhance
your portfolio By Stephen Freedman
68 What you should know about foreign
private placement rules
By François Brabant
69 AccordOctet: more financing power to
help trade with Asian suppliers
By Dwarka Lakhan
70 Going public the Canadian way...eh
By David Clarke
REGISTERED PLANS IN THE EXEMPT
MARKET
72 Tapping into RRSP capital for private
company investments
By Marty Gunderson
MARKET INSIGHTS
76 Precious Metals: Bullion basics part two:
the smart money is buying bullion
By Mark MacDonald
78 Business Owners: Do business owners
have a bias against risk?
By Jacoline Loewen
82 Exempt Market: Alternative investment
opportunities? What are exempt market
products and how can they make you
money? By Adam Derges
EXEMPT MARKET TECHNOLOGY
86 20 Questions with Exempt Logic founder
Sheldon Stier
90 Find government funding for your clients in
mere minutes By Teri Kirk
ABOUT THE EMDA
92 EMDA community
93 Benefits of EMDA Membership
94 EMDA Advertising Opportunities
EMDA UPDATE
4 Welcome message
By Geoffrey Ritchie
7 Founding Sponsor Spotlight:
Walton Capital Management
8 EMDA News
12 EMDA Flashback by David Gilkes
14 EMDA Achievements 2012
15 EMDA Board of Directors
32 Regulatory Financial Reporting
Certificate Program
34 2012 EMDA Exempt Market
Conference Review
36 2012 EMDA Awards -
Exempt Market Deals of the Year
52 People on the Move
54 EMDA Dialogue
60 EMDA Exclusive FIB and E&O
Insurance Programs
REGULATORY UPDATES
16 British Columbia proposes to revoke
the Northwest Exemption &
the MIE exemption By Brian Koscak
18 EMDA out in front of the
crowdfunding wave By Brian Koscak
22 North of 41 and EMDA hosted
Crowdfunding Event in
November 2012 By Jeff Musson
25 FATCA—Delayed But Still Coming.
What Do EMDs need to know?
By Dan Lundenberg
28 CSA seeks comments on proposed
Statutory Best Interest Duty
By Marsha Gerhart
30 OSC Survey - Proposed OSC
Outreach Program
COMPLIANCE CORNER
38 Feature Story: Selling to Accredited
Investors – You better get it right!
By Brian Koscak and Afzal Hasan
46 Anti-money laundering 101
for exempt market dealers
By David Gilkes
48 Referral arrangements with
unregistered referring parties
By Peter Dunne
51 BC securities commission
“Fraud-Watch” ads FAIR OR FOUL?
By Alison Alfer
Exempt Market Update
published by the Exempt Market Dealers Association of Canada IN THIS ISSUE
Editor
Geoffrey Ritchie | gritchie@emdacanada.com
Design & Production
Elena Mazur | emazur@emdacanada.com
Contributing Authors
Alison Alfer
François Brabant
David Clarke
Adam Derges
Sean Du Plessis
Peter Dunne
Stephen Freedman
Marsha Gerhart
David Gilkes
Marty Gunderson
Afzal Hasan
Teri Kirk
Brian Koscak
Dwarka Lakhan
Jacoline Loewen
Dan Lundenberg
Mark MacDonald
Romit Malhotra
Jeff Musson
Geoffrey Ritchie
William Santor
Sheldon Stier
Colin Walker
Stephen Warden
Mailing Address
First Canadian Place, 100 King Street West
Suite 5700, Toronto, ON M5X 1C7
p: 1.877.363.3632
e: info@emdacanada.com
www.emdacanada.com
Advertising | Feedback | Subscriptions
info@emdacanada.com
Exempt Market Update is published by the
Exempt Market Dealers Association of Canada.
This national industry magazine is issued
bi-annually and features commentary from
the leaders in the private capital markets.
All rights reserved. Contents may not be
reprinted without written permission. The
opinions expressed in articles are not
necessarily those of the publisher. Information
presented is compiled from sources believed to
be accurate; however, the publisher assumes
no responsibility for errors or omissions.
Articles are not intended to provide legal,
accounting or compliance advice as individual
situations will differ and should be discussed
with a lawyer, accountant, compliance and/or
other regulatory compliance professional.
Images Credit: www.istockphoto.com
Don't miss anything about the EMDA, follow us:
EMDA COMMUNITY
Exempt Market Dealers Association of Canada