FAQs
FAQs on Lending-based Crowdfunding
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.
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FAQs on Lending-based Crowdfunding
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CircularsPublished Date: 23 August 2018
CMI 27/2018 Controls and Disclosures to be Implemented by Licensed Securities-Based Crowdfunding Operators
This circular applies to licensed securities-based crowdfunding (SCF) operators. It sets out the measures SCF operators should put in place to assess issuers, manage defaults or cessations, and disclose interest and default rates.
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GuidelinesPublished Date: 01 November 2016
Guidelines on Criteria for the Grant of a Capital Markets Services Licence Other Than for Fund Management and Real Estate Investment Trust Management [SFA 04-G01]
How to qualify to be a CMS licensee (other than a fund manager or REIT manager).
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GuidelinesPublished Date: 08 June 2016
Guidelines on the Advertising Restrictions [SFA 13-G15]
Guidelines on advertising restrictions for capital markets services.
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GuidelinesPublished Date: 08 June 2016
Guidelines on Personal Offers made pursuant to the Exemption for Small Offers
Guidelines for shares and debentures on what is considered a “personal offer” and requirements for personal offers, including proper records and documentation.
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ConsultationsPublished Date: 16 February 2015
Consultation Paper on Facilitating Securities-Based Crowdfunding
Proposed measures to facilitate securities-based crowdfunding (SCF), such as lowering of financial requirements for platform operators. Also provided clarifications on exemptions from certain prospectus requirements under the SFA for fundraising through SCF.
- Consultation number:
- P005 - 2015
- Start date:
- 16 February 2015
- Closing date:
- 18 March 2015
- MAS response date:
- 08 June 2016