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Promoting the Regulatory Recognition Approach to Accelerate Regional Financial Integration

Promoting the Regulatory Recognition Approach to Accelerate Regional Financial Integration. APFF Seattle 2014 July 7, 2014. Image source: www.wikipedia.org. THREE REGIONAL FUNDS PASSPORTING INITIATIVES. *www.businessinsider.com (April 14, 2014). *www.forbes.com (Jan. 23, 2014).

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Promoting the Regulatory Recognition Approach to Accelerate Regional Financial Integration

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  1. Promoting the Regulatory Recognition Approach to Accelerate Regional Financial Integration APFF Seattle 2014 July 7, 2014

  2. Image source: www.wikipedia.org

  3. THREE REGIONAL FUNDS PASSPORTING INITIATIVES *www.businessinsider.com (April 14, 2014) *www.forbes.com (Jan. 23, 2014)

  4. THE ARFP CONSULTATION PAPER PROPOSES: • Rules governing passport CIS & participating CIS operators • Procedures & requirements for passport CIS • Supervision framework for CIS • Enforcement mechanisms for passport arrangements

  5. KEY ISSUES CRITICAL TO THE ARFP’S SUCCESS Restrictive legal architecture Framework Narrow membership; competing regional passport initiatives Membership Competing tax regimes; double taxation in cross border flows Taxation Lacked standards and uniformity Distribution

  6. KEY RECOMMENDATIONS

  7. THANK YOU

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