The Asia Region Funds Passport is live
The Asia Region Funds Passport (“Passport”) is now live.
Japan, Thailand and Australia are ready to receive registration applications from local prospective Passport funds and entry applications from foreign Passport funds.
For further information about becoming registered as a Passport fund in Australia, Japan or Thailand please see the following webpage links below:
Japan: https://www.fsa.go.jp/en/faq/others/others_d.html#06 (English)
New Zealand and Korea continue to make progress with the legal and regulatory requirements for implementation required in their respective jurisdictions.
The next face-to-face meeting of the Joint Committee (JC) of the Passport will be held in Seoul, the Republic of Korea in early May 2019.
The Passport will enable cross-border offerings of managed funds to retail investors while maintaining appropriate investor protections. It was established through the APEC Finance Ministers’ Process.
In June 2016, Australia, Japan, the Republic of Korea, New Zealand and Thailand entered into a memorandum of co-operation (“MoC”). The JC was established under the MoC to oversee the effective implementation and operation of the Passport.
The Passport aims to provide significant benefits to investors through enabling greater fund choice, while maintaining effective legal and regulatory arrangements for investor protection.
It is also intended to strengthen the capacity, expertise and international competitiveness of the funds industry and financial markets in the region.
The current chair of the JC is the Financial Markets Authority of New Zealand with the Financial Services Commission of the Republic of Korea the current vice-chair.
1 February 2019