Venture Capital Markets Association

Venture Capital Markets Association

September 23, 2013 12:55 ET

Venture Capital Markets Association Supports National Securities Commission

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 23, 2013) - The Venture Capital Markets Association fully supports the recent announcement by the Finance Ministers of Canada, Ontario and British Columbia with respect to forming a national security regulator.

The Association believes that this may lead to an understanding of how venture capital in Canada has been seriously harmed by regulations imposed by several provincial securities commissions, by the TSX and TSX-V through its owners, the banks, and other governing bodies including the Investment Industry Regulatory Organization of Canada (IIROC).

Most of the provinces, and particularly all isolated communities, and the Territories, are very dependent upon jobs created by venture capitalized companies, especially within the resource sector. The large institutions controlling IIROC and influencing the Commissions are infringing on Canadians' right to speculate on venture investments without any regard for the ramifications that this lack of capital is having on its necessity to keep and create thousands of jobs.

Canada has an exceptional long history of growth and job creation emanating from venture capital. The decision to consider creating a national security regulator is a positive move to ensure that, hopefully, this tradition will continue.

For further information please contact the VCMA at: info@venturecanada.org

Venture enterprises in Canada are in a fight for survival. The VCMA needs your help to protect thousands of jobs and to create new jobs for the betterment of all of Canada.

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