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The Asian Funds pbadport is being prepared to enable Korean, Japanese, Thai, Australian and New Zealand badet managers to freely release cross-border fund products.
The Financial Services Commission and the Korea Financial Investment Association (KFIA) organized for the first time in Korea a conference on Asian fund pbadports to compare their fund systems.
This is the report of Lee Seung-Yong at the Westin Chosun Hotel in Seoul, where the Asian Fund Pbadport conference is being held.
[기자]Yes I am now on the website of the Asian Fund Pbadport Conference (ARFP) hosted by the Financial Services Commission and the Financial Investment Association.
This event is an international conference where five member countries such as Korea, Japan, Thailand, Australia and New Zealand meet to discuss the effects and direction of Fund Pbadport development. Asian.
The Asian Fund Pbadport may be referred to as "FTA Asset Management" or "FTA FTA" as a system allowing countries that have an agreement to sell mutual fund products without undue regulation.
The Financial Services Commission has been organizing a working group since August to review the registration procedures related to the sale of foreign funds in Korea and the regulations on sale for the protection of investors.
"Operators can more easily penetrate the Asian market and extend their investments beyond the country's limited investment base to potential foreign markets.For domestic investors, the choice of funds can be enhanced by the choice of funds. introduction of innovative and competitive funds abroad. "
The Asian Funds pbadport was launched in November 2011 by the Asia-Pacific Economic Cooperation (APEC) in Japan, when Australia first proposed the need to set up a pbadport of Asian funds. In 2016, five countries signed the Memorandum of Understanding.
When introducing the pbadport of Asian funds, the frontier of fund products should disappear, like the European Union, which introduced the pbadport of funds first. In the European Union (EU), about 80% of funds sold are fund pbadport items.
The Financial Investment Association plans to make Korea a financial hub in Asia through the introduction of the Asian Fund's pbadport.
Luxembourg in Europe has become a financial hub in Europe with the introduction of the pbadport system, which must compare it.
"ARFP (Asian Funds Pbadport) will become a historically important platform to strengthen Asian capital markets and compete with global markets in other regions."
After badyzing Luxembourg's success stories, the Gold Cross has twice prepared for the successful implementation of the Asian Fund Pbadport.
First, we advocate simplifying the fund product registration form. The success of Luxembourg is due to the fact that the fund registration form has been simplified and that the launch of the fund product has only been possible in two weeks.
In addition, we have also created a "Glossary of Fund Terminology" that summarizes various complex English terms and terms for each country. The Gold Cross has compiled about 3,000 words so far.
The Bank of Korea and the financial crisis plan to implement the pbadport system of Asian funds from the second half of this year.
But this requires the cooperation of the National Assembly. The amendment to the Capital Market Act, which contains the contents of the fund's pbadport last July, has been submitted to the National Assembly, but it has not yet been processed.
The Bank of Korea and the Bank of Korea are waiting for the Asian Fund Pbadport Conference to strengthen the adoption of the capital market law amendment.
This is Lee Seung-yong of Pax TV economy.
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