News Summary

Vancouver-based startup Addy, a fractional real estate investment platform, has transitioned into an exempt market dealer (EMD) after paying a $100,000 fine to the British Columbia Securities Commission (BCSC). The fine was due to Addy trading approximately $26 million in securities without proper registration. This new status allows Addy to trade private securities and operate in most Canadian jurisdictions, except Ontario, where it is currently seeking registration. Addy enables retail investors to engage in real estate investments with minimal capital, democratizing access to this asset class. The company, founded by Stephen Jagger and Mike Stephenson in 2018, holds assets valued over $1.3 billion among more than 50,000 Canadians. The registration as an EMD will streamline Addy’s operations, allowing it to act as its own dealer and expand its offerings, bypassing third-party EMDs.