THE Securities and Exchange Commission (SEC) has approved its rules and regulations on crowdfunding, a move that will allow start-ups and small and medium-sized enterprises greater access to funding.
The SEC en banc on July 4 approved the rules and regulations governing crowdfunding, defined as a fund-raising activity typically conducted through an online platform, mainly used by start-ups.
“Information and communication technology has made a significant impact on our financial environment,” SEC Chairman Emilio B. Aquino said.
