NEWSLETTER-2017

230 NEWSLETTER 2017 not limited to, requesting the remedy of the contradiction within the specified period, limiting or canceling the activities. Conclusion Regulating the crowdfunding as an alternative financing instru- ment has become essential in order to support the entrepreneurs and projects that would assist in the development of the national economy. It is intended that the Draft Law, which includes flexible provisions, to incorporate crowdfunding into the scope of the capital market legisla- tion. The Draft Law excludes crowdfunding platforms from the defini- tions of publicly held companies and issuers, and keeps crowdfunding out of the scope of the responsibilities to prepare a prospectus and export documents. With the enactment of the Draft Law, the existing crowdfunding platforms will be obliged to obtain official authoriza- tions from the Capital Market Board.