+Article 20 1

Article 20 1

1.   Crowdfunding service providers which provide crowdfunding services consisting of the facilitation of granting of loans shall:

(a)

disclose annually the default rates of the crowdfunding projects offered on their crowdfunding platform over at least the preceding 36 months; and

(b)

publish an outcome statement within four months of the end of each financial year indicating, as applicable:

(i)

the expected and actual default rate of all loans the crowdfunding service provider has facilitated, by risk category and by reference to the risk categories set out in the risk-management framework;

(ii)

a summary of the assumptions used in determining expected default rates; and

(iii)

where the crowdfunding service provider offered a target rate in relation to individual portfolio management of loans, the actual return achieved.

1. Overview

,
Summary Regulation

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements
Source Requirement

3. Related Standards

Standards
Source Requirement