06 August 15
The Australian Government has released a consultation paper on facilitating crowd-sourced equity funding and submissions are due by Monday 31st August.
As the largest advisor in Small Scale Offerings we would support the raising of the 20 investor limit and/or the $2m cap. Under the current rules as a Class Order Operator we can raise up to $5m, which seems to be the limit the Government is looking at. We would also support that intermediaries should be able to invest in issuers and that these details must be disclosed (this is not currently the case with Small Scale Offers).
Please contact us on brisbane@fundingstrategies.com.au to give us your feedback.