SC invites applications for registration as ECF, P2P financing operators


In a statement issued yesterday, the SC said the Cabinet Special Committee on Anti-Corruption (JKKMAR) had approved its recommendation to require listed companies to put in place anti-corruption measures and a framework to promote the effective discharge of directors

KUALA LUMPUR: The Securities Commission Malaysia (SC) has invited parties interested to operate equity crowdfunding (ECF) or peer-to-peer (P2P) financing platforms to submit applications for registration with the regulatory body.

In a statement today, the SC said the applications must be submitted latest by Sept 7, 2018.

As of June this year, the SC had registered seven ECF and six P2P financing operators, and these platforms have benefited more than 300 micro, small and medium enterprises, raising RM118 million capital through more than 1,000 successful campaigns.

“The Guidelines and Recognised Markets outline the requirements for registered ECF and P2P platforms, duties and responsibilities of an operator, and the type of issuer and investors who can participate in such activities.

“It is an offence under Section 7 of the Capital Markets and Services Act 2007 for any person to operate ECF and P2P platforms without prior authorisation from the SC,” it said.   The guidelines and application form are available at www.sc.com.my. - Bernama
 
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