What are the responsibilities of platform operators such as AMB Connect?

Platform operators must implement systems and processes that ensure protection of investors and public interest, the proper functioning of the market, promote fairness and transparency and manage any conflict of interest that may arise. Specifically, they must:

1. Carry out a due diligence exercise on prospective issuers planning to use its platform;
2. Monitor the conduct of the issuer for monitoring purposes;
3. Carry out investor education programmes;
4. Ensure the issuer’s disclosure document is verified for accuracy and made accessible to investors through the platform;
5. Inform investors of any material adverse change to the issuer’s proposal;
6. Monitor issuers to ensure that the fundraising limits imposed on the issuer are not breached;
7. Monitor investors to ensure that the investment limits imposed on the investors are not breached;
8. Obtain and retain the self-declared risk acknowledgement forms from the investors prior to them investing on an ECF platform;
9. Have in place processes to monitor anti-money laundering requirements;
10. Ensure protection of personal data is maintained in accordance with the Personal Data Protection Act 2010.