Portability of financial services qualifications on the agenda for 10 ASEAN countries, says CISI

By Lora Benson | Nov 16, 2015

The portability of skills and professional financial services qualifications between 18 countries in the ASEAN area could be a reality for those nationals working in the sector, according to a high-powered meeting hosted by the Chartered Institute for Securities & Investment (CISI).

The CISI hosted the delegation, in partnership with The CityUK, of 18 senior ASEAN financial services regulators at a roundtable in London. The ASEAN Capital Markets Forum (ACMF) is composed of the 10 ASEAN jurisdictions of:

  • Brunei Darussalam
  • Cambodia
  • Indonesia
  • Laos PDR
  • Malaysia
  • Myanmar
  • Philippines
  • Singapore
  • Thailand
  • Vietnam

The roundtable theme “Building Capital Markets in support of financial regulation” was discussed with a focus on the skills required for developing capital markets.

Co-chaired by CISI and TheCityUK , the roundtable supported the idea of encouraging the expansion of the concept of mutual recognition of capital markets qualifications as part of the ASEAN free trade agreement, due to take place on 31 Dec 2015.   CISI CEO, Simon Culhane, Chartered FCSI, said “There was real interest in recognising international financial qualifications which will help the free flow of capital within the ASEAN region.”

The group also discussed trade and investment frameworks, bond market development and legal infrastructure, following which the delegation met with other financial firms, the London Stock Exchange and the Lord Mayor of the City of London at the Mansion House.

In 2006 the ACMF members jointly adopted the “Common Supervisory Framework” for mutual recognition of qualifications of market professionals at its 5th ACMF meeting.