Grow VC Group
  • Home
  • Group
  • Executive Team
  • FAQ
  • Join Us
  • Trainee Program
  • Contact
  • News

Singapore Releases New Regulations for Securities Crowdfunding Platforms

6/26/2016

Comments

 
The Monetary Authority of Singapore (MAS) launched a consultation paper in February last year proposing measures to facilitate access capital for startups and SMEs. With the responses received, 8 June 2016 MAS announced new measures to simplify the use of securities crowdfunding (SCF) for companies that are looking to raise funds, as well as for crowdfunding platform operators.

For platform operators, MAS will simplify the pre-qualifications needed for those raising less than S$5 million within 12 months, allowing them to do that without having to issue a prospectus. The changes will simplify checks needed for investors so that the process can be quicker and easier to execute.

Financial requirements for platform operators who raise funds only from institutional and accredited investors, will be reduced, making it easier for them to be licensed as dealing intermediaries, “as long as they do not handle or hold customer monies, assets or positions, and do not act as principal against their customers”. In practical terms, the minimum capital requirement will be reduced from S$250,000 to S$50,000, the minimum operational risk requirement will be reduced from S$100,000 to S$50,000 and the requirement for a S$100,000 security deposit will be removed.

In conclusion, this represent a positive development for those looking to start a new digital investing platform in Singapore, but it’s not the only good news. Last year the Financial Sector Technology & Innovation (FTSI) scheme launched, committing SGD $225 million ($167 million), in a five year plan to support financial technology innovation. In April MAS announced additional initiatives to boost the country’s position as a global hub for digital finance, with the launch of the first Singapore FinTech Festival, to be held from 14 to 18 November 2016, and it was just last week that MAS and the Australian Securities and Investments Commission (Asic) signed a new cooperation pact, called the Innovation Functions Cooperation Agreement, that will allow fintech firms in Australia and Singapore to speed up the process of entering each other's markets.
​
Read the whole article and more details on Crowd Valley News.
Picture
Comments

    About

    Est. 2009 Grow VC Group is the global leader of fintech innovations, digital and distributed finance services. Our mission is to make the finance services more effective, transparent and democratic. The Group includes leading fintech companies in their own areas.

    Read the latest Grow VC Group  FinTech, distributed and crypto finance, and blockchain report
    Read the AI, Asia and FinTech report - including comments about potential trade wars.
    Download

    Research Report 1/2018: Distributed Technologies - Changing Finance and the Internet 


    ​Research Report 1/2017: Machines, Asia And Fintech:
    Rise of Globalization and
    Protectionism as a
    Consequence


    Fintech Hybrid Finance Whitepaper

    ​Fintech And Digital Finance Insight & Vision Whitepaper


    Learn More About Our Companies:
    • Crowd Valley
    • Prifina
    • Grow Advisors
    • TradeUp Fund
    • RE Bearing
    • Startup Commons
    • Lost in Translations
    • Kapipal
    • DealIndex
    • Protektr
    • Commoditarian
    • Crowd Index Fund
    • ​Crowd Citee

    Archives

    January 2019
    December 2018
    November 2018
    September 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016

    Categories

    All
    Grow VC Group

    RSS Feed

Enabling Digital Finance
Picture
© 2009-2019 Grow VC Operations Ltd. All Rights Reserved.
  • Home
  • Group
  • Executive Team
  • FAQ
  • Join Us
  • Trainee Program
  • Contact
  • News