KUALA LUMPUR (Apr 10): The Securities Commission Malaysia (SC) has today opened submissions for operators interested in establishing and operating equity crowdfunding (ECF) or shariah-compliant ECF platforms.

In a statement, SC said the invite is in line with its revised guidelines on regulation of markets under Section 34 of the Capital Markets and Services Act 2007 in February this year, which introduced requirements for the registration of ECF platforms.

"These platforms will enable start-ups and small and medium enterprises to obtain capital through small equity investments from relatively large number of investors, using online platforms," it said.

The revised guidelines provide a framework for the regulation of registered ECF platform, duties and responsibilities of an ECF operator, and the type of issuers and investors who can participate in ECF.

Applications must be submitted to SC by May 11, 2015. For more information, visit www.sc.com.my.