SEC partners with ASEAN counterparts

MANILA, Philippines — The Securities and Exchange Commission is working with its counterparts in Malaysia, Singapore and Thailand to facilitate crossborder movement of investment advisers.

The move, which will allow ASEAN investors greater access to professional services, is one of two initiatives the ASEAN Capital Markets Forum (ACMF) launched in Singapore.  It is  aimed at driving a more connected and sustainable ASEAN capital market.

These initiatives complement the measures introduced by the ACMF on collective investment schemes, corporate governance, disclosure standards and capacity building.

As a result, licensed professionals will be able to provide advisory services within participating ASEAN jurisdictions, with fast-track registration and no additional licensing requirements.

The four regulators signed a memorandum of understanding yesterday at the 2nd ASEAN Capital Market Conference, an ACMF initiative hosted by the Monetary Authority of Singapore in collaboration with the Asian Development Bank.

ACMF also continues to place emphasis on sustainable finance.  It launched the ASEAN Social Bond Standards and the ASEAN Sustainability Bond Standards.

With the ASEAN SBS and ASEAN SUS, the ASEAN region now has a complete suite of standards to accelerate the development of sustainable finance in the region. 

The standards are intended to enhance transparency, consistency and uniformity of ASEAN green, social and sustainability bonds, which will reduce due diligence cost and assist global investors to make informed investment decisions.

“These two standards complement the ASEAN Green Bond Standards which have gained encouraging traction with five issuances from Malaysia and Singapore carrying the ASEAN Green Bond label, while the first sovereign sukuk in ASEAN issued by Indonesia is aligned with the ASEAN Green Bond Standards,” the SEC said.

The ASEAN Capital Market Conference is a platform for capital market regulators to exchange ideas, share insights, and collaborate amongst themselves and with industry experts to formulate actionable plans to drive the region’s agenda for deeper and more connected capital markets.