Regulatory Alerts2016-06-08
Added
Guidelines on Personal Offers Made Pursuant to the Exemption for Small Offers
The Monetary Authority of Singapore issues these guidelines to clarify the conditions under which personal offers of securities qualify for the small offers exemption from prospectus requirements. The document defines personal offers as discrete communications to pre-identified individuals with prior professional connections or those who have previously indicated interest, explicitly excluding cold calls. It mandates strict pre-qualification procedures, including knowledge or suitability assessments and risk disclosures, for intermediaries assisting small and medium-sized enterprises in raising funds up to a $5 million limit.
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