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Singaporean Crowdfunding Licence | Pre-licensing Assessment | CMSL Application Management | Post-licensing Risk and Compliance Support

We offer a comprehensive set of solutions to help you obtain and maintain a Singaporean crowdfunding licence, tailored to:

Your business goals and objectives
Your client demographics
Your countries of operation
The size of your business
The available human and technology resources
Your risk appetite
Your governance structure
The products that you offer
Monetary Authority of Singapore (MAS) Regulated Crowdfunding Platforms' Obligations covering risk and compliance management under the Securities and Futures Act (SFA), Capital Markets Services (CMS) Licence requirements, AML/CFT laws, privacy laws, consumer protection laws, and more

We have designed our regulatory licensing solutions to help you navigate the complexities of the Singaporean crowdfunding licensing regime in a commercially oriented and goal-focused manner, providing effective support for all stages of the crowdfunding firms' licensing process, including but not limited to the following aspects:

Singaporean Crowdfunding Platforms' Licensing Guidance: Advising on a wide range of aspects associated with crowdfunding firms' licensing as it relates to your specific situation
Pre-licensing assessment: Covering compliance gap analysis as well as risk and compliance assessment
Pre-licensing support:

Drafting the necessary policies and procedures to help you comply with the Singaporean crowdfunding licence conditions and MAS regulations
Developing internal controls to help you meet your obligations under the Singaporean crowdfunding firms' licensing regime

Crowdfunding CMSL Application Support: Covering the entire licensing process
Post-licensing Support: Covering

Ongoing compliance advice
Comprehensive second-line risk and compliance support, including leading the implementation of your risk management framework (RMF), compliance management framework (CMF), compliance monitoring program (CMP), compliance calendar and checklist, ongoing risk assessments, internal and external reporting, outsourced providers' management, and more
AML/CFT advice
AML/CFT compliance management
Compliance assurance solutions, including compliance assurance program (CAP) development, implementation, and internal control testing.

Service Coverage

This page is about the Singaporean Capital Markets Services Licence (CMSL) for Crowdfunding Platforms. In Singapore, entities conducting regulated activities involving running a crowdfunding platform or a service are generally required to hold a CMSL issued by the Monetary Authority of Singapore (MAS). This licence authorises them to operate a crowdfunding service to accredited, institutional, and retail investors (with additional obligations).

We offer comprehensive support for a wide range of crowdfunding CMSL applications tailored to meet the specific needs of the following businesses:

Equity Crowdfunding Platforms
Lending-Based Crowdfunding Platforms
Rewards-Based Crowdfunding Platforms
Donation-Based Crowdfunding Platforms
Real Estate Crowdfunding Platforms
Debt Crowdfunding Platforms
Royalty-Based Crowdfunding Platforms
Hybrid Crowdfunding Platforms
Community-Based Crowdfunding Platforms
Microfinance Crowdfunding Platforms
P2P Insurance Crowdfunding Platforms
Broker-Dealer or Funding Portals

You can find more information about our Singaporean crowdfunding firms' licensing solutions below:

Singaporean Crowdfunding Firms’ Licensing Preparation

Pre-licensing Compliance Assurance

Our Singaporean crowdfunding licence solutions cover the following focus areas:

Compliance Goals Analysis: We review your business-specific goals and resources against the suitability criteria for a Singaporean crowdfunding licence
Initial Consultation: We provide guidance on potential risk and compliance issues that may arise during the Singaporean crowdfunding firms' licensing process
Choosing the Right Jurisdiction: We assist in evaluating regulatory, risk, and compliance environments to determine the most suitable jurisdictions for your Singaporean crowdfunding licence, tailored to suit your:

business objectives,
operational capacity,
client base,
markets of operations,
and other relevant factors

Gap Analysis: We identify gaps between your existing operations and regulatory requirements and help you align them in a commercially oriented manner
Singaporean Crowdfunding CMSL Application Plan: We help you establish a roadmap to effectively meet the CMSL requirements for crowdfunding platforms.

Singaporean Crowdfunding Licence Guidance

Selecting the right compliance model is crucial not only for navigating the licensing process but also for maintaining ongoing compliance and avoiding potential breaches. Our Singaporean crowdfunding firms' licensing solution covers:

Compliance Model Selection: To help you best comply with the Singaporean crowdfunding firms' licensing regime and related risk and compliance obligations.
Corporate Governance Model Selection: We offer practical guidance on establishing effective corporate governance practices that support your risk and compliance oversight.
Operations Model Advisory: We advise you on optimising your operational and governance models to help you efficiently comply with the licensing requirements for Singaporean crowdfunding platforms and other applicable crowdfunding platforms' obligations, keeping in mind your specific circumstances, available resources and business goals.

Entering MAS Regulated Licensing Environment

We help businesses transition from an unregulated environment to operating under the Singaporean crowdfunding licensing regime, helping them meet their obligations as a CMSL holder.

We also assist already regulated businesses in aligning their existing risk and compliance management structures with the Singaporean crowdfunding firms' licensing regime requirements. Our focus areas for this service include:

New businesses
Existing crowdfunding platforms operating in unregulated markets
Singaporean crowdfunding platforms expanding into foreign jurisdictions
Financial institutions and/or service providers with established risk and compliance frameworks seeking to introduce a crowdfunding service as a new product.

Multi-Jurisdictional Compliance

With years of experience managing risk and compliance obligations for businesses operating under multiple financial licences across various jurisdictions, we help businesses remain compliant with regulated crowdfunding platforms’ obligations globally.

Crowdfunding Licence and Wholesale Markets

Obtaining a Singaporean Capital Markets Services Licence (CMSL) for crowdfunding activities may not always be necessary or commercially viable, particularly where retail market expansion is not part of your strategy. Operating in the wholesale environment may offer a more suitable alternative. We offer a range of risk and compliance management solutions tailored for crowdfunding platforms that:

Operate in the wholesale markets
Offer services to accredited, institutional, or expert investors
Operate under exemptions from the Singaporean CMSL regime (e.g. serving only accredited investors or institutional investors under available licensing exemptions)

For the latter category, we help them comply with the regulatory compliance obligations that are not captured under the Singaporean licensing requirements, but that still must be addressed, including:

Advertisement Rules
Fair Dealing Guidelines (under MAS Notice and Guidelines on Fair Dealing)
Risk Management
Oversight of Outsourced Providers
Restrictions on offering services to retail investors (an integral part of the CMSL regime)
Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) laws and regulations
Data Protection and Management obligations (including PDPA requirements)

Crowdfunding CMSL Application

We assist with your CMSL application through ongoing engagement in the Singaporean crowdfunding firms' licensing process:

Document Compilation and Review: We compile and review all required supporting documents to support your crowdfunding CMSL application.
Application Form Completion: We help you complete the forms so that all material information is accurate and complete.
Pre-Submission Review: We can arrange a pre-submission review session with key stakeholders to ensure all parts of your application are understood and agreed upon. This session aligns application details with the actual situation, removing ambiguity.
Regulatory Liaison: We manage the end-to-end submission process, maintaining clear and effective communication channels throughout the Singaporean crowdfunding firms' licensing process.
Timeline Management: We closely monitor and adhere to all necessary deadlines, providing timely updates and adjustments to keep the application process on track.

Resolving Singaporean Crowdfunding Licence Issues

Having competent compliance advisors is crucial when licensing issues arise. Therefore, our crowdfunding licence solutions include a range of services to address and resolve these issues effectively:

Remediation Solutions for Singaporean Crowdfunding Licence Applicants: We address and remediate risk and compliance issues identified by regulators, helping your operations align with Singaporean crowdfunding regime requirements.
Specific Licence Conditions Compliance: We can help you manage additional conditions imposed on your crowdfunding licence, developing a tailored action plan to maintain compliance and facilitate the eventual removal of these conditions with minimal disruption to your business operations.
Licensing Issues Handling: We address common licensing issues encountered during the crowdfunding firms' licensing process, providing you with solutions to navigate and resolve these challenges efficiently.
Further Information: You can visit our Compliance Remediation Solutions page for more information.

Post-Licensing Support

We offer a full range of ongoing risk and compliance solutions for MAS regulated crowdfunding platforms. Our services include, but are not limited to:

Ongoing Risk and Regulatory Compliance

Singaporean Crowdfunding Platforms' Obligations Guidance: We can advise your risk, compliance, management and other teams on meeting the requirements of the Singaporean crowdfunding firms' licensing regime and other regulatory compliance obligations. You can visit our Compliance Consultancy Service page for more information.
Regulatory Risk and Compliance Management: We provide dedicated compliance managers to manage your overall compliance. For more information, visit our Specialised Compliance Management Solutions page for Crowdfunding Platforms.
Compliance Assurance Solutions: As part of our compliance assurance solutions, we offer:
Compliance Assurance Program (CAP) development and testing options
Internal Controls Design option
Internal Controls Testing option
Internal AML/CFT Review option
Statutory AML/CFT Audit option
Compliance Training Solutions: We offer training programs to different teams on complying with:

Crowdfunding platforms: obligations for risk, regulatory compliance management, and MAS regulations. You can visit our Compliance Training page for more information.
Crowdfunding platforms’ AML/CFT obligations and operational best practices for fraud prevention. You can visit our AML/CFT Training page for more information.

Crisis Management Planning: We can develop proactive strategies to manage potential compliance crises effectively.
Anti-Money Laundering (AML) and Counter Terrorist Financing Solutions: We provide a full range of AML/CFT solutions for Singaporean crowdfunding platforms. For more information, visit our Specialised AML/CFT Solutions page for Crowdfunding Platforms.
Advanced Compliance Technologies: We can assist you with selecting and integrating advanced technology solutions, such as compliance automation tools and regulatory technology (RegTech), to streamline compliance processes without disrupting operations.
Risk and Compliance Framework Adjustments: Including adjustments to risk management frameworks (RMFs), compliance monitoring programs (CMPs), compliance management frameworks (CMFs), and other core procedures and policies to align them with:
new business goals
regulatory changes
changes in your operations
evolving market conditions
changes in stakeholders’ risk appetites (your banking partners, insurance companies, liquidity providers, etc.).