The Stock Market We Can’t See: The Exempt Market and Its Regulation


The Omni King Edward Hotel
37 King Street E,
Toronto, Ontario 
M5C 1E9


We all know about the stock market. Trillions of dollars of money in a highly regulated, transparent trading environment that helps fuel corporate growth. But there is another, larger source of that growth. The “exempt market”. You may know it from the $10,000 you invested in your brother’s new start-up company, with only a small application form to fill out. You may not know that the exempt market is BIGGER than the traditional stock market. So more money is being invested in a largely unregulated market, than in the traditional one.

Governments have taken note. And regulators are promising to crack down on this less regulated market with stricter controls, and smaller investing limits. With the amount of money at stake, investors and businesses are right to ask, “Do the regulators know what they are getting into?”

The School of Public Policy intends to answer that question. On November 17, please join us for lunch with an expert panel discussion. Leading authority in corporate finance and performance, Dr. Vijay Jog will start off the discussion with excerpts from his upcoming paper, “Exempt Markets in Canada – Empirics, Observations and Recommendations”. He will be joined by the former Chair of the Ontario Securities Commission Ed Waitzer, along with the N. Murray Edwards Chair in Business Law, Bryce Tingle. The discussion will be moderated by The School of Public Policy’s Jack Mintz.