Guidelines on Personal Offers made pursuant to the Exemption for Small Offers

Guidelines

Published Date: 08 June 2016

These guidelines for shares and debentures set out the nature of a personal offer as well as whether a relationship would be considered a “personal offer” under section 272A(1) of the Securities and Futures Act (Cap. 289) .

They cover:

Statutory requirements.
Policy objective of the small offers exemption.
Nature of a personal offer.
Relationships that would and would not satisfy the "personal offer" test.
Proper records and documentation of offers.

FAQs

Published Date: 08 October 2018

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.

Licensing, Authorisation and Registration Exemptions Securities or Securities-Based Derivatives Contracts
Circulars

Published 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.

Disclosures Operational Risk Securities or Securities-Based Derivatives Contracts
Consultations

Published 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.

Licensing, Authorisation and Registration Exemptions Capital and Financial Resources

Consultation number:

P005 - 2015

Start date:

16 February 2015

Closing date:

18 March 2015

MAS response date:

08 June 2016