ASEAN Capital Market Action Plan Focuses On Capacity Building Facilitation, Says SC

KUALA LUMPUR, March 26 (Bernama) -- The ASEAN Capital Markets Forum (ACMF) Action Plan 2016-2020 focuses on the facilitation of capacity-building for members, said the Securities Commission Malaysia (SC). In a statement Friday, the SC said the ACMF has been working with the Asian Development Bank where a needs analysis has been undertaken to guide the development of tailored capacity-building programmes for members individually and collectively. "The ACMF launched the ASEAN Young Regulators Programme as the first one to be rolled out under the ACMF Market Development Programme," it said. The new programme aimed to foster mutual sharing and exchange of expertise and experiences among capital market regulators in building a continuous pipeline of talent, it said. Meanwhile, the SC said, the ACMF Friday approved its Annual Implementation Plan 2016, which set out immediate priorities for the year, during its 24th meeting hosted by the Securities and Exchange Commission, Thailand. "The annual plan, which was developed based on the earlier approved ACMF Action Plan, will be presented to the ASEAN finance ministers at the coming meeting in April for endorsement," it said. The SC added that the ACMF 24th meeting welcomed the progress of the framework for cross-border offering of ASEAN collective investment schemes. "ACMF commended the working group and members who are working towards joining the ASEAN Collective Investment Schemes Framework for their commitment. "Three specific industry consultative panels were formed under the auspices of ACMF to further accelerate implementation of initiatives that facilitate cross-border offering of collective investment schemes, cross-border fundraising and ASEAN stock exchange connectivity. "In addition, the ACMF has partnered with ADB to commission a study to provide input on the ASEAN stock exchange connectivity," it said. The ACMF has also agreed to explore efforts towards facilitating the movement of capital market professionals in consultation with industry players in the region, SC said. -- BERNAMA