Admission of Philippines to the ASEAN Collective Investment Schemes Framework

On 10 May 2021, a supplemental Memorandum of Understanding was signed by the Securities Commission Malaysia, Monetary Authority of Singapore, Securities and Exchange Commission of Thailand and Securities and Exchange Commission of Philippines to admit the Securities and Exchange Commission of Philippines as a signatory to the ASEAN Collective Investment Schemes (“CIS”) Framework (“the CIS Framework”).

The entry of Philippines into the CIS Framework would allow qualified investment companies in the Philippines and their fund managers to offer eligible funds to retail investors in the other three member jurisdictions (which are Malaysia, Singapore and Thailand) and vice versa.