KUALA LUMPUR: Operators interested in establishing and operating an equity crowdfunding (ECF) or Shariah-compliant ECF platform can now submit their applications, said the Securities Commision Malaysia (SC).
“The applications must be submitted to the SC by May 11, 2015,” it said in a statement today.
On Feb 10, 2015, the SC released the revised Guidelines on Regulation of Markets under Section 34 of the Capital Markets and Services Act 2007 (Guidelines) which introduced requirements for the registration of ECF platforms.
“These platforms will enable start-ups and small and medium enterprises to obtain capital through small equity investments from relatively large numbers of investors, using online platforms.
“The Guidelines provide a framework for the regulation of registered ECF Platform, duties and responsibilities of an ECF operator and the type of issuers and investors who can participate in ECF,” it said.
The application form and guidelines are available on the SC’s website at www.sc.com.my – Bernama