Event Register

Crowd Sourced Equity Funding

Halfday seminar 25 July, 2014

Dr Terry Cutler; Principal, Cutler and Company (Chair); Paul Niederer, CEO, ASSOB; Andrew Macpherson, Principal, Macpherson Greenleaf; Bradley Kidd, Partner, Chapman Tripp; John Kluver, Executive Director, CAMAC

Dixson Room, Mitchell Wing, NSW State Library

08:30AM to 12:30PM


A new source of finance for start-ups and SMEs
What’s the cheapest way to raise money for your business? The most common method is to take your company public. However, creating a prospectus and dealing with consultants and brokers can end up costing tens of thousands of dollars just to reach the IPO. The hip alternative is crowd funding with the likes of Indiegogo and Kickstarter where  capital is raised for charitable purposes, or recordings or technology. The 'investor' receives usually only a gift, a 'perk'  or a warm feeling from his or her contribution. The well-established Australian Small Scale Offerings Board (ASSOB), which is restricted to professional or 'sophisticated investors' has long successfully offered a third method. Now the ASSOB concept is being extended. A global movement is creating ways of raising seed capital for innovative ideas cheaply and quickly. Steps have been taken in many countries including the UK, Canada, USA and New Zealand to facilitate light touch capital raisings for equity rather than for perks or gifts. New Zealand was open for business from 1 April, 2014. So where is Australia in this mix? The Corporations and Markets Advisory Committee (CAMAC) has recently released its report. The Government and ASIC will shortly respond.

Program
8.30am Registration
9.00am Welcome from the Chair — Dr Terry Cutler, Principal, Cutler and Company; Chair, CSIRO Chile
9.10am ASIC ASSOB approval and history of equity raisings — Paul Niederer, CEO, Australian Small Scale Offerings Board (ASSOB)
9.50am The ASIC/ASX regime: regulatory arbitrage between Australia and New Zealand — Andrew Macpherson, Principal, Macpherson Greenleaf
10.30am Morning tea
11.00am NZ equity crowd funding regulation: experience to date — Bradley Kidd, Partner, Chapman Tripp
11.40am The CAMAC Report: a way forward in Australia — John Kluver, Executive Director, CAMAC
12.20pm Questions
12.30pm Close

Dr Terry Cutler, Principal, Cutler and Company; Chair, CSIRO Chile
Dr Terry Cutler has a background in the information and communications technology sector. He has authored numerous influential reports and papers on technology policy, regulation and innovation. Terry Cutler is a Fellow of the Australian Academy of Technological Sciences and Engineering, the Australian Academy of the Humanities, and the Australian Institute of Public Administration. 

Paul Niederer, CEO, Australian Small Scale Offerings Board (ASSOB)
Paul Niederer is one of Australia’s leading authorities on peer to peer investing and equity based investment for early stage growth companies. Paul joined the ASSOB team in late 2008. As CEO, Paul leads a team that shepherds businesses through an ordinarily complex and frustrating Capital Raising Process with efficiency and effectiveness.  Paul is no stranger to managing growth businesses, having spent the past few years as CEO of both ASX and NSX publicly listed businesses. Before that he managed and developed businesses in Singapore, the Middle East and Sweden

Andrew Macpherson, Principal, Macpherson Greenleaf
Andrew Macpherson has practised law with large commercial firms and has also worked in industry and consulted for corporates including the Law and Justice foundation and ASIC. He is also familiar with the small law firm environment. He is a former Director of the Australian Telecommunications User Group (ATUG), with his work supporting the need for reregulation of the telecommunications industry. Andrew served as a director of the Australian Information Security Association (AISA) and served on the Law Society’s human rights and technology committees. He has published locally and overseas.

Bradley Kidd, Partner, Chapman Tripp
Bradley Kidd is a corporate and securities law specialist. He is experienced in transactional matters and is at the forefront of Chapman Tripp’s financial services regulatory practice. Bradley has particular expertise in the regulatory environment for banks and other major financial services market participants.  He also advises on mergers and acquisitions, corporate finance and listed company transactions. Bradley has written a number of articles on company and securities law, financial services regulation and stock exchange listing rules issues.

John Kluver, Executive Director, Corporations and Markets Advisory Committee (CAMAC)
John Kluver, as Executive Director of CAMAC since its inception in 1989 and previously as Director of the Companies and Securities Law Review Committee since 1984, has been closely involved in many of the major developments in corporate and financial markets law in Australia over that 30 year period.



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