PETALING JAYA: The Securities Commission Malaysia (SC) has invited parties interested to operate equity crowdfunding (ECF) or peer-to-peer (P2P) financing platforms to submit their applications for registration to the commission by Sept 7.
As at June 2018, the commission said it has registered seven ECF operators and six P2P financing operators.
SC noted that these platforms have benefited more than 300 micro, small, and medium enterprises (MSMEs) to raise a total of RM118 million capital through more than 1,000 successful campaigns.
“The Guidelines on Recognised Markets outline the requirements for registered ECF and P2P platforms, duties and responsibilities of an operator, and the type of issuers 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 added in a statement today.
Both the guidelines and application form are available on www.sc.com.my.