ACMF unveils new framework

PETALING JAYA: The Asean Capital Markets Forum (ACMF) has announced the implementation of the Streamlined Review Framework for the Asean Common Prospectus, according to the Securities Commission (SC).

In a statement, the SC said the announcement came with the launch of a handbook which details the operational aspects of the framework.

“Cross-border issuers can now enjoy a shorter time-to-market and faster access to capital across the region,” it said.

The SC, Monetary Authority of Singapore (MAS), Securities and Exchange Commission Thailand (SEC) and Singapore Exchange (SGX) had signed on to the framework in March this year.

“ACMF continues to drive greater connectivity of the region’s US$3.5 trillion capital markets, which aim to create more opportunities and avenues for Asean businesses and investors to benefit from, as well as to contribute to regional growth and economic integration,” it added.

The SC is currently the chair of the ACMF, a high-level grouping of Asean capital market regulators created under the auspices of the Asean Finance Ministers to better integrate the region’s capital markets.

The meeting reviewed the progress of key initiatives under the ACMF, including the Asean common prospectus review framework, the corporate governance ranking of public-listed companies in the region, and the cross-border offering of Asean Collective Investment Schemes.

Asean capital market regulators also discussed the impact of recent market developments and the outlook for capital markets in the region.

Meanwhile, the ACMF has finalised the ACMF Action Plan 2016-2020, developed in collaboration with regulators and market participants in the region, to set out the ACMF’s strategic objectives to achieve an interconnected, inclusive and resilient regional capital market for the next five years.

One of the key initiatives under the Action Plan is the ACMF Market Development Programme to facilitate the development of member countries through various capacity building schemes.

The Action Plan will be presented to the Asean Finance Ministers for endorsement at its next meeting in 2016.