During the meeting, the ACMF members noted the progress of the implementation of the ACMF Action Plan 2016-2020 that would support the objectives of the Asean Economic Community.
In response to the strong positive feedback received from market participants, the ACMF approved the establishment of a working group on professional mobility that will introduce rules to govern cross-border movement of capital market professionals on a staggered basis.
Given the ACMF's continued emphasis on capacity-building, the meeting endorsed the capacity building plan developed jointly by the ACMF and the Asian Development Bank (ADB).
The ACMF also commended the start of the Asean 'Young Regulators of Program' launched early this year with the secondment of young regulators from SEC Cambodia to the Securities Commission Malaysia.
Due to the global financial crisis that started in 2007, the ACMF reexamined the effectiveness of existing capital market incentives and financial regulatory structures with the goal of promoting good governance.
Six countries (Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam) volunteered to have their PLCs assessed by the ACMF using the Scorecard, to have a common governance standard which makes PLCs comparable with each other and to promote ASEAN as an asset class.
Meanwhile Ranjit said the ACMF meeting today also endorsed an Asean Capital Market Development Programme which aimed at extending mutual assistance to all market within the region to facilitate individual and regional market development.
This inclusive programme will be tailored to the needs of specific countries and aligned with the objectives of the ACMF in achieving greater regional connectivity" said Ranjit.
The ACMF meeting also approved the proposal to develop a five-year Action Plan from 2016-2020.
The ACMF Action Plan 2016-2020 will focus in ensuring seamless access to capital and investments within a connected regional market" said Ranjit.
One block was at OSBS and another at HCW-MA plus 3 blocks at ACMF (blocks separated by at least 50 m).
Four blocks of traps were placed in the field (3 at ACMF and one at the OSBS).