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April 28, 2016
Financial Services Agency

Signing of Asia Region Funds Passport’s Memorandum of Co-operation

Representatives from Australia, Japan, Korea and New Zealand today signed the Asia Region Funds Passport’s Memorandum of Co-operation (MoC).

The Passport is an international initiative that facilitates the crossborder offering of eligible collective investment schemes with ensuring investor protection in economies participating in the Passport. The MoC sets out the internationally agreed rules and cooperation mechanisms of the Passport.

Signing of the MoC is an outcome of over-six-years international negotiation on the Passport arrangements. Australia, Japan, Korea, New Zealand, the Philippines, Singapore and Thailand have contributed expertise to developing the framework in the Working Group.

The MoC comes into effect on 30 June 2016 and any other eligible economy that signs the MoC before then will be an original participant in the Passport. The MoC also ensures any other eligible APEC economies are able to participate in the Passport even after it comes into effect.

The MoC is available on the Asia Region Funds Passport page of the APEC’s website. Participating economies have up to 18 months from 30 June 2016 to implement domestic arrangements. Activation of the Passport will occur as soon as any two participating economies implement the arrangements under the MoC.

Asia Region Funds Passport page of the APEC’s website: http://fundspassport.apec.org/open new window

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