Wealthtech

SEC Allows Crowdfunding Portals to Act as Registrars of Qualified Buyers

The Philippines’ Securities and Exchange Commission (SEC) has allowed crowdfunding portals to act as registrars of qualified institutional and individual buyers.

This means that crowdfunding intermediaries and funding portals will no longer be reliant on third party institutions to assist potential investors with their application as qualified buyers.

Previously, only banks, brokers, dealers, investment houses, and investment company advisers were allowed to act as registrars.

Emilio B. Aquino

“Recognising crowdfunding portals as eligible to act as registrar of qualified buyers will facilitate the process for qualified investors in accessing alternative investment opportunities, without the need to reach out to several different institutions.

This is in line with our efforts to encourage more people to tap alternative sources of funding and investment, as we seek to unlock the full potential of the Philippine capital market.”

said SEC’s Chairperson Emilio B. Aquino.