News Snapshot:
The Philippines has become the fourth country to join the ASEAN Collective Investment Schemes Framework, a funds passporting scheme established by the ten-member Association of Southeast Asian Nations. The move will allow approved Philippine funds to be sold under a streamlined authorisation process to retail investors in countries that have joined the cross-border scheme. The other signatories are Malaysia, Singapore and Thailand. The Philippines Securities Exchange Commission (Philippines SEC) has signed a memorandum of understanding with counterparts from the three countries for admission into the scheme. “The entry of the Philippines into the framework is the latest step towards enhancing...
