Promoting regional connectivity
1. ASEAN Capital Markets Forum (ACMF)
The ASEAN Capital Markets Forum (ACMF) is a high-level grouping of capital market regulators from the ten ASEAN jurisdictions, namely Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

Established in 2004 under the auspices of the ASEAN Finance Ministers, the primary responsibility of the ACMF is to develop a deep, liquid and integrated regional capital market.

The SC supports the integration efforts under the ASEAN Economic Community (AEC) Blueprint 2025 which aims to achieve sustained regional growth and resilience. It plays plays a key role in the ACMF, including having chaired the Forum from February 2006 – August 2008 and from October 2014 – October 2018 for a duration of 4 years. 

During its chairmanship of the ACMF, the SC spearheaded the development of the ACMF Vision for 2025 towards an inter-connected, inclusive and resilient ASEAN capital market. Notable initiatives to date include the ASEAN Professional Mobility Framework, ASEAN Corporate Governance Scorecard, the ASEAN Framework for Collective Investment Schemes and several others. The ACMF also launched a complete suite of standards comprising of ASEAN Green Bond, Social Bond and Sustainability Bond Standards to accelerate the development of sustainable asset classes in the region.

In facilitating the regional capital market integration efforts, the SC presently co-chairs the following working groups: 
  • Sustainable Finance, with the Securities and Exchange Commission Philippines
  • Market Development Programme, with the Securities and Exchange Commission of Cambodia


2.  ASEAN Working Committee on Capital Market Development (WC-CMD)
The Working Committee on Capital Market Development (WC-CMD) was established as part of the Roadmap for Monetary and Financial Integration of ASEAN, which was endorsed by the ASEAN Finance Ministers Meeting in Manila in 2003.

The WC-CMD serves as the coordinating committee which monitors initiatives and progress of ASEAN members towards building the capacity and laying the infrastructure for development of ASEAN capital markets, with a long-term goal of achieving cross-border collaboration among the various capital markets in ASEAN. 

Members of WC-CMD comprise representatives from the Finance Ministries, Securities and Exchange Commissions and Central Banks. From July 2018 to June 2020, the co-chairs of WC-CMD are the SC and the Ministry of Finance, Vietnam.

WC-CMD’s workplan includes enhancing the role of ASEAN capital markets to support infrastructure financing, including Islamic financing, as well as promoting sustainable financing through collaboration with the ASEAN Capital Markets Forum.

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