{"id":5717,"date":"2020-01-04T00:02:00","date_gmt":"2020-01-03T16:02:00","guid":{"rendered":"https:\/\/pnl-law.com\/blog\/?p=5717"},"modified":"2020-05-04T17:33:24","modified_gmt":"2020-05-04T09:33:24","slug":"crowdfunding-eligibility-for-exemption-from-registration-of-securities","status":"publish","type":"post","link":"https:\/\/pnl-law.com\/blog\/crowdfunding-eligibility-for-exemption-from-registration-of-securities\/","title":{"rendered":"Crowdfunding: Eligibility for Exemption from Registration of Securities"},"content":{"rendered":"\n

Crowdfunding<\/a> is an exemption to the requirement that securities<\/a> cannot be sold or offered for sale within the Philippines without a registration statement<\/a> filed with and approved by the Securities and Exchange Commission (SEC). Under the Crowdfunding Rules<\/em>, an issuer<\/a> may offer or sell securities<\/a>, provided that: <\/p>\n\n\n\n\n\n\n\n

Related discussions:
* Introduction of crowdfunding in the Philippines<\/a>
* Disqualification of intermediaries<\/a>
* Permitted activities of intermediaries<\/a>
* Ongoing obligations of intermediaries<\/a>
* Prudential requirements of intermediaries<\/a>
* Measures to reduce risk of fraud<\/a><\/td>
* Registration of crowdfunding intermediary<\/a>
* Account opening requirements<\/a>
* Requirements for crowdfunding transactions<\/a>
* Completion of offerings, cancellations, reconfirmations<\/a>
* Registration of funding portals<\/a>
* Registration of crowdfunding Issuers<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

1<\/strong>. The issuer is an entity organized under the laws of the Philippines or a Filipino natural person, and accredited and\/or accepted by a crowdfunding intermediary<\/a> to utilize its platform<\/a>. [See Issuer requirements in crowdfunding]<\/p>\n\n\n\n

2<\/strong>. The aggregate amount of securities that can be offered and sold by issuer<\/strong> within a 12-month period shall comply with the following limits:<\/p>\n\n\n\n