CMI 27/2018 Controls and Disclosures to be Implemented by Licensed Securities-Based Crowdfunding Operators
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 what constitutes a "personal offer" under the small offer exemption in Part XIII.
Guidance on advertising restrictions set out in certain prospectus exemptions 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