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Singapore, Malaysia and Thailand Sign Framework Agreement For Cross-Border Retail Investments
Vanessa Doctor
7 October 2013
The have signed an agreement that will ease the cross-border offering of collective investment schemes to retail investors in the three countries. Dubbed the ASEAN CIS Framework, the deal means that Singapore-based fund managers will be able to offer retail funds directly to investors in Thailand and Malaysia and vice versa under a streamlined process. This is without having to make significant modifications to the funds. To offer CIS to non-retail investors, the three countries agreed to provide mutual assistance to supervise the offerings. The framework is expected to be implemented by the first half of 2014.