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Crowdfunding Portals Empowered by SEC to Act as Registrars of Qualified Buyers
The Securities and Exchange Commission (SEC) has empowered crowdfunding portals to act as registrars of qualified institutional and individual buyers by issuing Memorandum Circular No. 12, Series of 2023. Through the said issuance, SEC introduced amendments to Section 39.1.4.1 of the Implementing Rules and Regulations (IRR) of the Securities Regulation Code (SRC). Specifically, the amendment
