Singapore: MAS to regulate crowdfinance platforms & overhaul regulations

Crowdfinance (i.e. crowdfunding) platforms, which currently use a promissory note exemption to connect and engage with retail investors will soon have to obtain licenses from the Monetary Authority of Singapore (MAS) to continue operating, in conjunction with tweaks to existing rules, so as to make it simpler to easier for licensed securities crowdfunding platforms to tap the retail market.