Trump plans grand spectacle for potentially tense Xi talks
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BAGANBAZAR GRAPHSource-attributed newsBUSINESS deskBusiness
SEC proposes tighter rules for crowdfunding platforms
THE SECURITIES and Exchange Commission (SEC) is proposing to limit crowdfunding platforms to registered broker-dealers and investment houses, potentially removing funding portals as a separate category allowed under existing rules. Under the 2019 framework, brokers, investment houses, and funding portals may act as crowdfunding intermediaries. The proposed rules would allow only SEC-registered broker-dealers and investment houses. The SEC issued the proposed amendments to its crowdfunding rules for public comment on Sept. 11, the commission said in a statement on Sept. 22. Crowdfunding intermediaries would also have to meet applicable capital and financial requirements and comply with rules on due diligence, fraud prevention and detection, conflicts of interest, investor education, disclosures, cybersecurity, fund safeguarding, and business continuity. The proposal would retain limits on how much retail investors may put into crowdfunding offerings. Retail investors earning up to P2 million a year could invest up to 5% of their annual income across crowdfunding issuers within a 12-month period, while those earning more than P2 million could invest up to 10%. Qualified investors would not be subject to those limits but would still have to comply with applicable provisions of the 2015 Securities Regulation Code (SRC) Rules, as amended. Issuers could offer up to P25 million in securities to any investor over a 12-month period. Offerings to qualified investors could exceed P25 million but would be capped at P100 million over the same period. Eligible securities offered through crowdfunding platforms would be exempt from registration under Section 12 of Republic Act No. 8799, or the Securities Regulation Code, subject to the proposed rules. The framework would cover both equ
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BAGANBAZAR GRAPHSource-attributed newsBUSINESS deskBusiness
‘Get off my chest’: Anti-Woodside logo protest gains traction
A campaign to remove Woodside Energy as the Fremantle Dockers' major sponsor has gained momentum after MP Josh Wilson joined the action as the football club prepared for the second grand final in its 32-year history.
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BAGANBAZAR GRAPHSource-attributed newsBUSINESS deskBusiness
Australian shares suffer fourth straight losing week
The Australian share market has fallen to a three-month low as oil prices and bond yields both moved higher and domestic interest rates looked to soon join them.
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