The Asia Region Funds Passport Joint Committee has published the Annual Implementation Report 2022 – 2023. This report covers the activities of the Joint Committee from December 2022 to December 2023.
Background
Australia, Japan, New Zealand, the Republic of Korea, and Thailand entered into the Memorandum of Cooperation in June 2016, then established the Joint Committee 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.