Regulatory Alerts2022-04-07
Public Consultation on Facilitating Equity Crowdfunding in Sri Lanka
The Securities and Exchange Commission of Sri Lanka issued this consultation paper to propose a regulatory framework for equity crowdfunding, seeking public feedback by May 23, 2022. The document outlines strict requirements for platform operators, including registration, due diligence, and investor fund safeguarding, while imposing caps on fundraising amounts and investment limits to protect retail investors. It also defines eligibility criteria for issuers, mandating that only local unlisted SMEs can participate and requiring specific financial disclosures based on the capital raised.
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