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.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Tech Sector Report: Joyce Warns Asian Tech Investors View NZ As Hobbits And Food

Speaking in Wellington at the launch of a report showcasing the value of the technology sector to the New Zealand economy, Joyce said more had to be done to tell the country's technology stories overseas. More>>

ALSO:

Mediaglommeration: APN Gets OIO Approval For Demerger Plan

APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More>>

New Paper: Ninety-Day Trial Period Has No Impact On Firms' Hiring

The introduction of a 90-day trial period has had no impact on hiring by New Zealand companies although they are now in widespread use, according to researchers at Motu Economic and Public Policy Research. More>>

ALSO:

Corrections: Serco Exits Equity Stake, Remains As Operator

Serco has sold its equity stake in the company that holds the contract to design, build and run Wiri Prison in South Auckland but continues as sub-contractor to operate the facility. More>>

GDP: NZ Economy Grows Faster-Than-Forecast 0.7%

New Zealand's economy grew at a faster pace than expected in the first quarter of 2016 as construction expanded at the quickest rate in two years. The kiwi dollar jumped after the data was released. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news