ARFP moves a step closer, proposals welcomed

The proposed Asia Region Funds Passport (ARFP) scheme has moved a step closer with the release of draft rules and operational arrangements. The memorandum of understanding (MoU), published last Friday, took into account industry feedback following a consultation paper launched last April. While there were no substantive changes, what the document offered was a great deal more clarity on the application process and operational details. Justin Ong, head of asset management pract…