The Australian Securities and Investments Commission (ASIC) is out with two consultation papers that are guides for crowd-sourced funding (or investment crowdfunding).
The first, “Crowd-sourced funding: Guide for public companies,” is consultation seeking feedback for proposed guidance on public companies raising capital online.
The second, “Crowd-sourced funding: Guide for public companies,” is for platforms that intend on operating under the new regulations.
ASIC Commissioner John Price commented on the two consultations;
“CSF has the potential to be a new source of funding for small to medium-sized businesses, including start-up and early-stage companies. ASIC is keen to assist public companies and crowd funding platform operators to understand and comply with their obligations under the new regime, which can help sustain investor confidence and support for CSF.”
Comments are being accepted on both consultations until 3 August 2017. Comments are not confidential unless a specific request to treat the comments as confidential.
Both documents are embedded below. Additional information is available here.
The comments may be forwarded to the addresses below.
Guide for Public Companies
Australian Securities and Investments Commission Level 5, 100 Market Street
Sydney NSW 2000
facsimile: +61 2 9911 5231
Guide for Intermediaries
Senior Manager, Investment Managers and Superannuation Australian Securities and Investments Commission
GPO Box 9827
Sydney, NSW 2001
facsimile: +61 2 9911 2138
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