The Financial Post reports in its Friday edition that the Investment Industry Association of Canada is calling on provincial securities regulators to scrap equity crowdfunding to help turn around the fortunes of the TSX Venture Exchange. The Post's Barbara Shecter quotes IIAC head Ian Russel as saying in an industry newsletter Thursday, "The TSXV is a far more effective vehicle for raising capital than crowd-funding, and provides far better protection for investors." Mr. Russel has other ideas besides shelving long-awaited crowdfunding, which is coming to Ontario this month, to improve the fortunes of the moribund venture exchange. The penny-stock haven has foundered amid weak commodity markets. Mr. Russell wants lower prices on the TSX-V to help small listed companies, and he wants regulators to harmonize prospectus exemptions across the country. Investor rights lobbyist Neil Gross getting rid of crowdfuning for "pet projects" would not be enough to buoy the TSX-V. "To avoid adding to the TSX-V's woes, you'd have to scrap more than just crowdfunding. You'd need to rethink the wisdom of many other recent decisions that have opened up pathways to the exempt market," Mr. Gross said.