AMCF launches mobility framework, social and sustainability bond standards

KUALA LUMPUR: The Asean Capital Markets Forum (ACMF) met in Singapore and launched two key initiatives to drive a more connected and sustainable Asean capital market.

These initiatives complement the measures introduced by the ACMF on collective investment schemes, corporate governance, disclosure standards and capacity building.

The ACMF launched a framework to facilitate cross-border movement of investment advisers, which will allow Asean investors greater access to professional services. The first phase of the ACMF Professional Mobility Framework is the introduction of the “ACMF Pass” which will allow licensed professionals to provide advisory services within participating Asean jurisdictions, with fast-track registration and no additional licensing requirements.

Malaysia, Philippines, Singapore and Thailand are the first countries to participate in this initiative, to be followed by other countries in due course.

The four regulators signed a Memorandum of Understanding at the second Asean Capital Market Conference, an ACMF initiative hosted by the Monetary Authority of Singapore in collaboration with the Asian Development Bank (ADB).

The ACMF continues to place emphasis on sustainable finance and launched the Asean Social Bond Standards (Asean SBS) and the Asean Sustainability Bond Standards (Asean SUS). The introduction of the Asean SBS and Asean SUS follows from the Asean Green Bond Standards launched in November 2017.

The Asean region now hasa complete suite of standards to accelerate the development of sustainable finance in the region.

The standards are intended to enhance transparency, consistency and uniformity of Asean green, social and sustainability bonds, which will reduce due diligence cost and assist global investors to make informed investment decisions.