Release of Annual Report and Guidance
Release of Annual Report
The Asia Region Funds Passport (ARFP) Joint Committee has published its first Annual Report on its website. The Annual Report provides updates on each participating economy’s progress in implementing the ARFP Memorandum of Co–operation (MoC). This report represents a cooperative effort by Japan, Australia, New Zealand, South Korea and Thailand.
The Annual Report covers the 2016-17 financial year. During this period, all ARFP economies began implementing ARFP arrangements in their economies and the Joint Committee held its first two face-to-face meetings. During these meetings, the ARFP economies co–ordinated their implementation plans and discussed issues including tax and fund back–office processing.
The Annual Report also contains:
- summaries of Joint Committee meetings held in November 2016 and April 2017
- an update on progress of tax issues
- a summary of discussions on back-office fund processing
- summaries of engagement with potential participant economies and industry
- an example application form setting out minimum requirements for a fund’s entry into a ARFP economy, subject to any additional regulatory requirements.
Consultation on ARFP Guidance
The Joint Committee has also released general regulatory information to assist operators of collective investment schemes seeking entry in any of the ARFP economies. This is to assist in the initial assessment of the requirements of the ARFP and is not intended as a substitution for legal advice.
Public consultation on the interim guidance is open for 8 weeks. Submitters are encouraged to address their submission to their relevant regulating authority. Contact information for submissions is available on the ARFP website.
25 July 2017