The Vancouver-based company has now been registered as an exempt market dealer, letting it offer equity, debt and real estate fund transactions, the company said. Addy first learned it needed to register last April and registered in August, according to a press release. (The Logic)
Talking point: Addy was fined $100,000 by the B.C. Securities Commission last week for facilitating $26 million in trades without being registered as a securities trading platform. The fractional real estate investing company acts as an intermediary in trades for real estate, and investors can buy into a property for as little as $1. Initially, Addy attempted to exempt itself from registering as a securities platform through the “crowdfunding” exemption, but the BCSC said some of the startups’s issuers have common principals with the company. Addy also solicited purchasers through emails and social media, so remaining unregistered was “contrary to national rules,” the BCSC said.