Asia Region Funds Passport Industry Consultation Paper

Greg Medcraft ASIC chairman

Greg Medcraft ASIC chairman

ASIC notes the release of the internationally negotiated consultation paper on the Asia Region Funds Passport (the passport) jointly with government agencies from Korea, New Zealand, Singapore, Thailand, and the Philippines.

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.

The consultation paper sets out the proposed passport arrangements for public consultation on the details of the proposed framework and follows the signing of a statement of intent on the passport by ministers from Australia, Korea, New Zealand and Singapore at the APEC Finance Ministers’ Meeting in Bali in September 2013.

ASIC has provided technical assistance to the Australian Treasury in developing the consultation paper together with government officials and regulators from the other economies that are issuing the consultation paper.

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