LETTER FROM THE EDITOR
By: Cora Pettipas
I was reading the Three Little Pigs to my daughter the other night. Most people will remember this ubiquitous fairy tale: Three little pigs just moved away from home, and the first one builds his house out of straw because it is the fastest. The second little pig uses slightly better technology and puts a little more work into it; he builds his house out of sticks. The third little pig puts in the most effort using the best technology and builds a house of brick. He endured his two brother’s criticisms for working so hard, and persisted as he knew there was an external threat, a wolf that lived nearby. The story ends with the wolf blowing down the first two houses but he is unable to blow down the third, and the first two pigs barely escape with their lives, thanks to the third brother and his house of bricks.
This story exemplifies what NEMA and our members are doing. Through hard work and action, you can stave off the destruction by the ‘big bad wolf,’ or in this case, the winds of environmental change, and actually come out stronger for it. As more wolves come to our door, we will be ready, and we will even be able to find opportunity in it.
Our members are small businesses that are raising capital for other small businesses. They are familiar with hard work and innovation, and how to build business structures that matter to clients. However, since our new industry regulations and the global economic crisis, new external threats
are blowing at our doorstep and it is imperative that we and our members build houses of stone to protect against the external threats. For example, this is done through systematic due diligence processes that are well executed, and well thought out policies & procedures that produce good investor practises and paperwork that reflects this.
NEMA’s role now, and into the future, is supplying the stones to assist members in fortifying their ‘houses.’ NEMA is here to help solidify and protect the industry from the wolves that come to our door; whether it is unworkable regulatory proposals, a potential fraud, or anything else. NEMA and our members facilitated the largest writing campaign the regulators have ever seen over the proposed contribution limits, and we have to band together again to protect ourselves and our investors when needed. Currently, the national regulator proposal is the issue we are watching with vigilance, as discussed in our cover article.
In the past quarter, NEMA has been working hard for its membership. NEMA participated in six trade shows, including our industry conferences: WAISC Niagara and Vancouver. We spoke at seven venues with a total audience of over 1400 people. This quarter, NEMA has been to five provinces telling the story of the CanadianExemptMarket.Wecontinue to have a running dialog with other industry associations and regulators.
We are working hard at building that stone foundation through hard work and relationships to make sure our members have a voice. We have also rebuked FAIR’s disingenuous public statements of our industry in the Investment Executive, which is reprinted in this issue.
Also blowing at our doors are the winds of positive change that are discussed in this issue. There is opportunity to make our industry stronger, through technology, new platforms, and increased awareness and interest by investors, are all fac tors that make the future of the Exempt Market very exciting. The new proposed exemptions in Ontario in the next year will also make 2015 very interesting.
I would like to heartily thank all our members for their efforts, as you are the reason for our great number of success of this past year. I would like to thank the contributors of ads and articles to this issue of Exempt Edge, as well as Amy Alfano, our talented new graphic designer.
Please keep in touch, as this is our industry, our voice, our future.