ASIC to update guidance for funds management industry supporting Asia Region Funds Passport regime
ASIC is making updates to regulatory guides and information sheets to support the Asia Region Funds Passport regime and will release these amendments over the coming months.
In July 2018, ASIC released a suite of seven new and updated regulatory guides to provide comprehensive guidance to the funds management industry. The guidance was updated for changes arising from the Asia Region Funds Passport and brought all of ASIC's funds management policies up to date to help promote industry-wide consistency.
The updated regulatory guides were:
- Regulatory Guide 131 Funds management: Establishing and registering a fund (RG 131)
- Regulatory Guide 132 Funds management: Compliance and oversight(RG 132)
- Regulatory Guide 133 Funds management and custodial services: Holding assets (RG 133)
- Regulatory Guide 134 Funds management: Constitutions (RG 134)
- Regulatory Guide 136 Funds management: Discretionary powers (RG 136)
- Regulatory Guide 138 Foreign passport funds (RG 138).
The amendments that ASIC is continuing to make are to other relevant regulatory guides and information sheets. The regulatory guides and information sheets that may require or benefit from updating to support the Asia Region Funds Passport regime are set out in the tables below. The amendments to these guides and information sheets include adding technical references to the Asia Region Funds Passport regime, refreshing out-of-date references and providing greater clarity to existing guidance.
ASIC welcomes general comments or suggestions about updates to regulatory guides or information sheets for the Asia Region Funds Passport, which can be sent to ARFP@asic.gov.au.
Note: Click on each link to open the current version of the regulatory guide
Note: Click on each link to open the current version of the information sheet
The Asia Region Funds Passport is an initiative of the Asia Pacific Economic Cooperation Group (APEC), and provides a multilaterally agreed framework to facilitate the cross-border marketing of passport funds across participating economies in the Asia region. Legislative changes for the Asia Region Funds Passport have been implemented in Australia through the Corporations Amendment (Asia Region Funds Passport) Bill 2018.