Wednesday May 12 2021

News Source: Global Exchanges

Focus: General - Global Exchanges

Type: General

Country: International

Link: https://bit.ly/2Rf8R5F




On 10th May 2021, the Securities Commission Malaysia (SC) published a press release that the SC Malaysia, the Monetary Authority of Singapore (MAS), and the Securities and Exchange Commission, Thailand (SEC Thailand) have signed a supplemental Memorandum of Understanding (MoU) with the Securities and Exchange Commission Philippines (SEC Philippines) to admit SEC Philippines as a new signatory to the Association of Southeast Asian Nations (ASEAN) Collective Investment Schemes (CIS) Framework. The entry of the Philippines into the Framework is the latest step towards enhancing capital market connectivity in the region.

The ASEAN CIS Framework is an initiative under the regional capital markets integration plan endorsed by the ASEAN Finance Ministers in 2009 to facilitate cross-border product access and fund distribution for investors and issuers respectively. The framework enables fund managers operating in a member jurisdiction to offer a CIS constituted and authorised in that jurisdiction to retail investors in other member jurisdictions under a streamlined authorisation process.

The Supplemental MoU takes effect from 10th May 2021. With SEC Philippines’ participation in the ASEAN CIS Framework, the qualified investment companies in the Philippines and their fund managers will now be able to offer eligible funds to retail investors in the other three member jurisdictions, and vice versa.

Click on the above link for further information.