INTERNATIONAL: Asia Region Funds Passport goes live

Tuesday July 5 2016

A Memorandum of Co-operation (MoC) signed on 28^th April 2016 with a view to establishing an Asia Regions Funds Passport has entered into force. Asia Pacific Economic Co-operation (APEC) countries that are party to the MoC are Australia, New Zealand, Singapore, Japan and Korea.

The Asia Regions Funds Passport has the central aim of allowing collective investment schemes that are established and regulated in one participant country to be offered in another Participant country, subject to consistent application of rules and operating guidelines. A Joint Committee with representatives from each participant country will be established to oversee the effective implementation and operation of the passport arrangements.

Participating countries have up to 18 months from 30 June 2016 to implement the necessary domestic legislation and arrangements. Activation of the passport will occur as soon as any two participants are able to implement the agreed arrangements under the MoC.

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