Crowd Valley COO, Paul Higgins participated as the keynote speaker in New Zealand’s first ever full-day event dedicated to crowdfunding, the Pacific Crowdfunding Symposium. Paul explained some of the company’s recent findings in its Global Crowdfunding Market Report to give some context and insight into the regulatory trends and best practices that we have seen, for example, in the US, France, and Italy.
The New Zealand government’s draft regulations for equity and loan crowdfunding were released at the end of October with a deadline for public comment by 5 December 2013, so the event held a particular interest for attendees wanting to comment on the forthcoming regulations.
The Financial Markets Conduct Act 2013 will be implemented in two phases with phase 1 coming into effect on 1 April 2014 and phase 2 on 1 December 2014. The New Zealand Ministry of Business, Innovation and Employment is currently seeking feedback on:
The New Zealand Financial Markets Authority’s consultation on licensing crowdfunding from 13 November 2013 can be downloaded here.
The Financial Markets Conduct Act 2013 will be implemented in two phases with phase 1 coming into effect on 1 April 2014 and phase 2 on 1 December 2014. The New Zealand Ministry of Business, Innovation and Employment is currently seeking feedback on:
- a first set of regulations needed for phase 1
- a draft of the detailed requirements for disclosure documents that will be required to be given to investors before they invest. The feedback on these draft requirements will be used to assist the drafting of the regulations prescribing disclosure.
The New Zealand Financial Markets Authority’s consultation on licensing crowdfunding from 13 November 2013 can be downloaded here.
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