Member Call on APEC Consultation Paper: Arrangements for an Asia Region Funds Passport - 13 May (US/EU Time Zone)

 [28099]

May 7, 2014

TO: ETF ADVISORY COMMITTEE No. 7-14
TAX COMMITTEE No. 15-14
ICI GLOBAL TAX COMMITTEE No. 10-14
ICI GLOBAL STEERING COMMITTEE No. 6-14
INTERNATIONAL COMMITTEE No. 13-14
INTERNATIONAL OPERATIONS ADVISORY COMMITTEE No. 6-14
ICI GLOBAL ASIA PACIFIC CHAPTER No. 4-14
ICI GLOBAL ASIA PACIFIC FUND PASSPORTS TASK FORCE
ICI GLOBAL ASIA PACIFIC SENIOR LEADERS No. 4-14
ICI GLOBAL EXCHANGE TRADED FUNDS COMMITTEE No. 2-14
ICI GLOBAL REGULATED FUNDS COMMITTEE No. 3-14 RE: MEMBER CALL ON APEC CONSULTATION PAPER: ARRANGEMENTS FOR AN ASIA REGION FUNDS PASSPORT - 13 MAY (US/EU TIME ZONE)

 

As previously advised, the governments of the Asia Region Funds Passport (ARFP) working group have released a consultation paper to seek views on the proposed implementation arrangements for the AFRP. [1]

At a high level, the concept behind the ARFP is akin to the UCITS framework in the European Union. In essence, fund operators of investment funds that are domiciled or established in one of the passport member jurisdictions [2] are able to seek a license for such funds to be sold in one or more of the other passport member jurisdictions. A summary of the ARFP is contained in Memo 28087 dated 4 May 2014. [3] Submissions in response to the CP are due by 11 July 2014. ICI Global intends to submit a response.

A member call to discuss this consultation has been scheduled for Tuesday 13 May at 10am EDT/3pm BST. Dial-in details for the call are below.

Dial-in numbers:

US: 1 415 363 0833

UK: 0844 4 73 73 73

Other Numbers http://www.powwownow.co.uk/Conference-Call/International-Number-Rates

PIN: 491937

Please advise Ruth Tadesse on +1 202 326 5836 or at rtadesse@ici.org if you wish to join the call or if you require any further information.

 

Giles Swan
Director of Global Funds Policy - ICI Global

endnotes

[1] http://fundspassport.apec.org/files/2014/04/20140411-Consultation-Paper-on-the-Passport-Arrangements-FINAL.pdf

[2] A Statement of Intent was signed by finance ministers from Australia, New Zealand, Republic of Korea and Singapore on 20 September 2013. Thailand and The Philippines are now listed as participating economies in the CP, having not been signatories to the Statement of Intent.

[3] http://www.iciglobal.org/iciglobal/pubs/memos/ci.memo28087.global