Australia announces its equity crowdfunding regime
4 Aug 2015: The Australian Government released the key elements of its equity crowdfunding model today. In line with last year’s report from CAMAC, the government’s former securities industry advisory body, the proposed legislation will only apply to public companies and will include a cap of $10,000 per investment. Additionally platforms will need to be licenced by ASIC. In announcing this, the Minister for Small Business, Mr Bruce Bilson, also released a consultation paper to extend this “crowd sourced equity funding” regime to Australia’s proprietary companies, which comprise 99% of the country’s 2.2M registered companies.