On 8 June 2016, the Monetary Authority of Singapore
("MAS") finally announced its long
awaited policy posture on crowdfunding. This was done by
publication of formal responses to feedback received after the
release of its consultation paper in February 2015 (the
"February 2015 consultation paper").
To recap, the term "crowdfunding" describes an
approach to capital fund raising that involves participation by a
large number of investors (the so-called crowd). Crowdfunding can
be deployed to raise funds for a variety of purposes, for instance,
to raise funds for charitable purposes, or to help finance the
production of a novel consumer product that could then be given out
to the investors who helped by participating in the crowdfunding
effort.
