SEC to hold crowdfunding roadshow in Cebu City on March 17
MANILA, Philippines -The Securities and Exchange Commission (SEC) is rolling out the second leg of a nationwide roadshow in Cebu to promote alternative capital market fund raising.
The corporate regulator plans to hold its next event on March 17 at the Cebu Parklane International Hotel, Cebu City.
This follows the successful launch of the 2023 Roadshow on Capital Market Formation for SMEs in Davao last Feb. 15.
“The roadshow aims to emphasize the importance of the capital market, including crowdfunding platforms, in helping small and medium enterprises raise funds for business expansion,” the SEC said.
Crowdfunding allows businesses to raise money from a large pool of small investors though an online platform.
The SEC regulates crowdfunding activities in the country, with the Rules and Regulations Governing Crowdfunding provided under SEC Memorandum Circular No. 14, Series of 2019.
Cowdfunding companies are not required to register the securities as long as investments are solicited thought accredited third parties, the SEC said.
There are currently three crowdfunding intermediaries registered with the SEC, namely Investree Philippines, SeedIn Technology, Inc., and Eastern Securities Development Corp. (Round One).
Speakers from the three companies will be present during the roadshow to provide consultation on how to use their platforms, the SEC said.
SEC Commissioner Karlo S. Bello will also deliver the keynote speech for the Cebu roadshow, together with Markets and Securities Regulation Department Director Vicente Graciano Felizmenio Jr.
Other speakers include representatives from the Philippine Stock Exchange, Investment and Capital Corp. of the Philippines, the Philippine Chamber of Commerce and Industry and Cebu Landmasters, Inc.
The roadshow is part of the SEC Office for the Advancement of Strategic Investments in small and medium-sized enterprises.