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EQUITY CROWDFUNDING BILL FAILS

The equity crowdfunding funding bill, which start-ups said missed the mark, has lapsed before it could be passed by the Australian Senate. Its little surprise as the bill could not have been put forward at a more troublesome time, leading into the call for an early election.
The Corporations Amendment (Crowd-sourced Funding) Bill that passed the lower house, was expected to help facilitate early stage funding before the end of the 2016 year.
Given the caretaker roll for the government and yet to be defined policy amendments any clarity is likely to materialise towards the end of the year, with action by either party towards the latter part of 2017 (if not later).
We trust that the minor parties and senators will respect the bi-partisan view that ECF is overdue and of utmost importance to Australia's future.
As a leading contributor, this failure is a bitter pill to swallow, particularly for the hundreds of volunteers and interested parties who devoted thousands of pages of submissions to half a dozen government consultations.
Despite the challenges the CFIA is committed to working closely with government and the ASIC towards a balanced, sustainable and benchmarked outcome for equity crowd funding in Australia.
We trust that members and up-and-coming platforms will band together to form a joint policy position to assist the new government in presenting the Australian people new rights to equity investment in 2017.

 

Location

​Crowd Funding Institute of Australia Ltd
Suite 11,
330 Wattle Street
Sydney, NSW 2007
Email: [email protected]

CFIA - A NOT FOR PROFIT INDUSTRY BACKER

The Crowdfunding institute of Australia is a not-for-profit public registered in Australia by the Australian Securities and Investment Commission. Australian Business Number: 16 602 661 718.

CFIA is a company limited by member guarantee, incorporated for the betterment of all forms of Crowdfunding in Australia. 

We represent the industry at state and federal levels and help to support platforms, fundraisers and backers.

The CFIA is a member funded organisation supported by people like you.

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  • Home
  • Welcome
  • Benefits
  • Stories
  • Platforms
  • Contact
  • Education - CSF
  • Events
    • CFIA Conference
    • Gallery
  • CFIA Conference
    • Matthew Pinter - Billfolda
    • Arthur Naoumidis - Domacom
    • Jeffrey Broun - PCP
    • Jill Storey - Readyfundgo
    • Benjamin Hu - Galaxy Crowdfunding
    • Ken Burrows - VixVerify
  • Crowdfunding News
  • CFIA 2018 Crowdfunding Survey
  • Crowdwise Blog
  • About
  • CFIA Subscribers