The Monetary Authority for Singapore (MAS) has made it easier for SMEs to access securities based crowdfunding. SMEs are now able to crowdfund up to $5 million within a 12 month period without issuing a prospectus. SMEs will still have to disclose key risks to investors. Prequalification checks for investors have also been eased, allowing for easier investment.
FundedHere has become Singapore’s first fully licensed equity and debt based crowdfunding platform in Singapore, following receiving their Capital Market Services (CMS) license from the Money Authority of Singapore (MAS). FundedHere is set to go live next month, allowing accredited investors to choose between 10 start ups. Two other equity crowdfunding platforms in Singapore, Capbridge and Crowdo, expect to receive full CMS licenses from the MAS in the near future.
19 Mar 2016: The Hong Kong Financial Services Development Council (FCSC) released a report on equity crowdfunding on Friday, which proposes options to support its introduction in the city state. Potential approaches range from full legislative action to maintaining the status quo, or, a middle option through introducing regulatory initiatives. In announcing the report Council Chair, Mrs Laura M Cha, stated that “Equity crowdfunding is a major area of Fintech activities, one which not only breaks new ground in financing, but is also an innovative kind of community participation. The FCSC believes an appropriate avenue should be created to allow and regulate it.”