In the 27th ACMF Meeting at Singapore on 10 October 2018, Thailand’s SEC, as a chair of a working group, has introduced “ACMF Pass,” a framework to facilitate cross-border movement of investment advisers and analysts. The framework will allow licensed professionals to provide advisory services within participating ASEAN jurisdictions and enable ASEAN investors greater access to professional services. Malaysia, Philippines, Singapore and Thailand will be the first group of countries to participate in the “ASEAN Pass” initiative through jointly signing an agreement on this issue.

In addition, the ACMF meeting has launched the ASEAN Social Bond Standards and the ASEAN Sustainability Bond Standards. Such standards follow the ASEAN Green Bond Standards launched in November 2017 and has been used across the ASEAN region. This reflects ACMF’s commitment to promote the development of sustainable capital markets in the region.

The ASEAN Social Bond Standards and the ASEAN Sustainability Bond Standards were developed based on the principles of the International Capital Market Association (ICMA). The proceeds from social bonds are for financing or providing loans to projects that are socially beneficial, while the proceeds from sustainability bonds will be for projects that offer environmental and social benefits.  

Introducing both initiatives was a part of the 2nd ASEAN capital market conference on 11 October 2018 on “Sustainability and Connectivity”. This conference aimed at allowing capital market supervisory agencies in ASEAN to exchange their views, opinions and experiences, as well as forge cooperation and join hand with industry experts to formulate action plans to drive the region’s agenda and connectivity. The conference was attended by over 300 participants ranging from institutional investors, fund managers, analysts and other stakeholders in the financial industry. During the conference, panel sessions also discussed capital markets connectivity, sustainable financing, infrastructure financing as well as roles of capital markets in promoting financing ASEAN SMEs and start-ups.

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ASEAN Capital Markets Forum (ACMF) is a forum which comprises capital market regulators from 10 ASEAN jurisdictions, namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. The Securities Commission of Malaysia is the current ACMF’s Chair and Thailand SEC will be the next. For more information about ACMF, please visit the website: www.theacmf.org.