The Securities and Exchange Commission Philippines (SEC Philippines) has been admitted as a new signatory to the ASEAN Collective Investment Schemes (CIS) Framework, which is the latest step towards enhancing capital market connectivity in the region.
Securities and Exchange Commission of Thailand (SEC Thailand) secretary-general Ruenvadee Suwanmongkol said the ASEAN CIS Framework is delighted to welcome the Philippines as a new signatory, which fosters more inter-connected, inclusive and resilient ASEAN capital markets.
She said this new partnership will create more business opportunities and strengthen economic cooperation among ASEAN member states, while enriching the pool of funds available for investment in ASEAN.
With SEC Philippines’ participation in the ASEAN CIS Framework, qualified investment companies in the Philippines, and their fund managers, will now be able to offer eligible funds to retail investors in the three other member jurisdictions, Malaysia, Singapore and Thailand, and vice versa. (NNT World)