How to qualify to be a CMS licensee (other than a fund manager or REIT manager).

Provides guidance on the regulation of lending-based crowdfunding, including licensing of lending-based crowdfunding operators and applicable prospectus requirements or exemptions on offers of debentures.

Guidance on advertising restrictions set out in certain prospectus exemptions in Part XIII.

Guidance on what constitutes a "personal offer" under the small offer exemption in Part XIII.

Proposals to facilitate crowdfunding which involves the offer of securities to accredited and institutional investors.

Consultation number:

P005 - 2015

Start date:

16 February 2015

Closing date:

18 March 2015

MAS response date:

08 June 2016