The Asia Region Funds Passport Joint Committee (JC) held its 18th meeting in virtual format on 28 November 2025. The meeting was hosted by the JC Chair – the Securities and Exchange Commission (SEC) Thailand. Representatives from the Republic of Korea (Deputy Chair), Australia, Japan, and New Zealand participated in the meeting.
Progress of the Passport
Members discussed recent developments and ongoing work under the ARFP framework, including the review of eligibility thresholds and measures to enhance information availability and clarity for industry participants. The Committee also received updates on initiatives to improve transparency, such as tax-related information and guidance materials, and noted analytical work underway to consider potential adjustments to key ARFP parameters in light of current market conditions. Members further exchanged views on approaches to strengthen market outreach and engagement, including the role of communication channels, distributors, and institutional participants in supporting wider utilisation of the Passport.
Next meeting
The Committee reaffirmed its commitment to continued close cooperation in advancing the ARFP. Members will continue to progress the identified workstreams ahead of the 19th ARFP JC Meeting, which will be hosted by the Republic of Korea in 2026 following the conclusion of Thailand’s Chairmanship at the end of 2025.
Background
Australia, Japan, New Zealand, the Republic of Korea, and Thailand entered into the MoC in June 2016, then established the JC to oversee the effective implementation and operation of the Passport.
Established through the APEC Finance Ministers’ Process, the Passport enables cross border offerings of managed funds to retail investors and intends to provide significant benefits to investors through more fund choices and easier offshore market access to fund operators, while maintaining effective legal and regulatory arrangements for investor protection. The Passport is also designed to bolster the capacity, expertise, and international competitiveness of financial markets and the fund management industry in the region.