FCMB, SEC to Hold Roundtable on Crowdfunding

By Sodeinde Temidayo David

First City Monument Bank (FCMB) Limited, under its Hub One forum, in collaboration with Passion Incubator, is set to host a crowdfunding platform compliance roundtable with the support of the apex regulatory agency for the Nigerian capital market, the Securities and Exchange Commission (SEC).

The roundtable engagement event is aimed at bridging the knowledge gap between crowdfunding platforms and intermediaries on the new SEC rules on crowdfunding, the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet.

The event titled Building A Stable and Safe Investment Environment will take place virtually on September 9 at 1:00 p.m. (West Africa Time).

The crowdfunding platform compliance roundtable is a two-part engagement that will provide an opportunity for crowdfunding platforms operating within Nigeria the avenue to understand the new guidelines and engage the regulator.

The sessions are focused on revealing the rationale behind the crowdfunding guideline and rules, why such guidelines were implemented, and a general advisory on how to be a licensed crowdfunding platform.

Intending participants have been asked to register for the programme on the FCMB Hub one platform.

The event is also set to have the presence of notable officials from SEC including the Chief Economist at SEC, Legal/Fintech advisor from SEC and a Regulatory compliance expert.

Passion Incubator is an early-stage technology incubator/accelerator that supports and works with startups to develop their business ideas into successful companies. PI also collaborates with corporate organizations, government agencies, international development organizations, embassies and universities to design manage and implement startup programmes.

Hub One by FCMB is an innovation hub and coworking space owned by the lender but managed by Leadspace. It is aimed at impacting the tech ecosystem through various ecosystem support initiatives.