Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Foss welcomes first crowd-funding licence

Foss welcomes first crowd-funding licence

Commerce Minister Craig Foss today welcomed New Zealand’s first equity crowd-funding and peer-to-peer lending licences.

“The Financial Markets Conduct Act, passed in August last year, made crowd-funding and peer-to-peer lending possible. It is fantastic to see the first licences come through,” Mr Foss says.

The Financial Markets Authority issued the licences after a thorough assessment of each organisation’s licencing application.

“New Zealand needs more innovative businesses to increase economic growth – this is one way for early-stage and growth companies to source the risk capital they need to flourish,” Mr Foss says.

“We are leading the way in the Asia-Pacific region with a robust framework that will give these services the best chance of succeeding.”

Crowd-funding and peer-to-peer service providers are not required to prepare prospectuses or investment statements before fundraising from the public.

“These initiatives are part of the Government’s Business Growth Agenda to build New Zealand’s capital markets and drive business growth, exports and jobs,” Mr Foss says.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news