New proposals by Singapore’s central bank to help develop a securities crowdfunding market has earned limited praise from the industry for bringing clarity to the fog of a frontier business, the Business Times reported.
The Monetary Authority of Singapore on Monday sought feedback on proposals to lower the capital burden on platform operators, but continued to restrict such marketplaces to sophisticated investors and to ban deal-related marketing to the public.
The paper cited an industry analyst as saying the hurdle for an accredited investor in Singapore is so high that many current angel investors will not qualify. (bit.ly/1vAbTKH)
NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Singapore Newsroom; Editing by Anand Basu)