Self-certified investors to be treated more like accredited peers

The aim is that the treatment of self-certified investors will be more aligned with that of accredited investors.

For example, the expansion allows for the sale of securities by a business and for a resale by an existing security holder to a self-certified investor, similar to the resale provisions in the accredited investor exemption.

Businesses will also now be able to sell their securities to certain qualifying special purpose vehicles, in which both accredited investors and self-certified investors participate, without being subject to the investment limits that apply when selling securities to other self-certified investors.  

A three-year pilot for the exemption expires on March 31, 2024.