Friday September 11 2015

News Source: Global Exchanges

Focus: Other

Type: General




The Financial Services Agency has announced that Japan has decided to participate in the Asia Region Funds Passport (ARFP). The Asia Region Funds Passport is a region-wide initiative being led by Australia, New Zealand, Republic of Korea and Singapore.

The Asia Funds Region Passport (the passport) will, once implemented, provide a multilaterally agreed framework to facilitate the cross-border marketing of managed funds across participating economies in the Asia region.In the longer term, the passport could also facilitate funds from the Asia region being marketed in Europe through an Asian/European mutual recognition agreement.

The passport was recommended by the Australian Financial Centre Forum in its 2010 report (known as the Johnson report). The Australian Financial Centre Forum was set up in 2008 to report on developing Australia as a leading financial services centre.

The passport is expected to commence in early 2016.

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