SC invites applications for P2P, ECF financing

By TMR / Pic By MUHD AMIN NAHARUL

The Securities Commission Malaysia (SC) is inviting parties interested to operate equity crowdfunding (ECF) or peer-to-peer (P2P) financing platforms to submit their applications for registration to the SC.

The capital market regulator said as at June 2018, it has registered seven ECF operators and six P2P financing operators.

“These platforms have benefitted more than 300 micro, small and medium enterprises to raise a total of RM118 million in capital through more than 1,000 successful campaigns,” the SC said in a statement.

The SC said applications must be submitted latest by Sept 7, 2018.

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,” the regulator said.