Hong Kong issues crowdfunding reminders. The Hong Kong Securities and Futures Commission issued a notice reminding those engaged in crowd-funding activities of the potential application of certain securities laws and regulations, and reminding the public of the potential risks involved in participating in crowd-funding activities. (5/7/2014) SFC press release.
ASIC reports on red tape reduction. The Australian Securities & Investments Commission released a report outlining ongoing and new initiatives to cut red tape and lower compliance costs for regulated entities. The report outlines ASIC’s recent progress in areas such as financial services licensing and business names registration. The report also highlights the compliance cost savings that result from ASIC’s ongoing work, such as international engagement and waivers and guidance. Comments on the report should be submitted by June 18, 2014. (5/7/2014) ASIC press release.