Issuing guidelines on regulating crowdfunding
Published on 05-Nov-2024
The Union of Arab Securities Authorities (UASA) issued a guideline on Regulating crowdfunding activity within Arab financial markets. The guideline was prepared by the first pillar’s work group which was formed by UASA’s board members in their 17th annual meeting in Riyadh in 2023.
The work group prepared the study based on the accumulated experiences of UASA’s members in this field in addition to their view on the regional and international practices in this field, and since the crowdfunding is a new activity, a special importance has been given to the eligibility criteria that must be met by the platforms to be licensed.
It is noteworthy that UASA’s strategic plan has confirmed that the issuance of such a guideline will be advisory in nature that will help UASA’s members, when adopted, identify cybersecurity risks by adopting global best practices and local cybersecurity regulations.
The guideline can be viewed in Arabic through the following link: