THE SECURITIES and Exchange Commission (SEC) on Tuesday released guidelines to allow qualified investment firms in the Philippines to offer and invest in shares via the ASEAN Collective Investment Schemes (CIS) Framework.
“The rules apply to investment companies incorporated in the Philippines who intend to participate in the framework, as well as foreign CIS of member jurisdictions that will offer for sale units in the Philippines or other qualifying CIS as allowed under the ASEAN CIS Framework,” the corporate regulator said in a statement.
In May, the SEC inked a supplemental memorandum of understanding with its counterparts in Malaysia (Securities Commission Malaysia), Singapore (Monetary Authority of Singapore), and Thailand (SEC Thailand) to join the framework.
As one of the initiatives of the ASEAN Capital Markets Forum (ACMF), this allows…
