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MAS to implement ASEAN Disclosure Standards Scheme
Apr 03, 2013

Singapore, April 1st 2013 - The Monetary Authority of Singapore (MAS) announced today the implementation of the ASEAN Disclosure Standards Scheme (Scheme) for multijurisdiction offerings of equity and plain debt securities in ASEAN together with the securities regulators in Malaysia and Thailand.

2. The Scheme has been implemented in Singapore via the Securities and Futures (Offers of Investments) (Shares and Debentures) (Amendment No. 2) Regulations 2013 which will come into effect on 2 April 2013. The Scheme aims to facilitate fund raising activities as well as to enhance the investment opportunities within ASEAN capital markets. Issuers offering equity and plain debt securities in multiple jurisdictions within ASEAN will only need to comply with one single set of disclosure standards for prospectuses, known as the ASEAN Disclosure Standards, bringing about greater efficiency and cost savings to issuers.

3. The Scheme operates on an opt-in basis and ASEAN members will adopt the Scheme as and when they are ready to do so. Malaysia, Singapore and Thailand are the first three ASEAN jurisdictions to implement the Scheme.

4. The Scheme replaces the ASEAN and Plus Standards Scheme that was announced on 12 June 2009 and is one of the capital market initiatives undertaken by the ASEAN Capital Markets Forum (ACMF) as part of the regional capital market integration plan endorsed by the ASEAN Finance Ministers in April 2009 in Pattaya, Thailand.

 

Re-disseminated by The Asian Banker

Categories: Markets & Exchanges, Risk and Regulation
Keywords: MAS



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