Regulatory Alerts2019-03-14
Guidelines on the Implementation of ACMF Pass under the ASEAN Capital Market Professional Mobility Framework
The Philippine Securities and Exchange Commission issued these guidelines to implement the ACMF Pass, allowing licensed capital market professionals from ASEAN signatory countries to provide investment advice and issue research reports in the Philippines. The document defines eligibility criteria, restricts authorized activities to general advice on specific securities, and mandates that professionals be attached to a local licensed firm for supervision. It further outlines the application and renewal processes, the supervisory responsibilities of attached firms, and the enforcement mechanisms for regulatory compliance.
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