TA-9924 REG: Promoting an Interconnected, Inclusive, and Resilient Association of Southeast Asian Nations Capital Market - International Legal Firm (53169-001)

TA-9924 REG: Promoting an Interconnected, Inclusive, and Resilient Association of Southeast Asian Nations Capital Market - International Legal Firm (53169-001)

Date Published: 07-Feb-2025

Deadline of Submitting EOI: 21-Feb-2025 11:59 PM Manila local time

SELECTION PROFILE

Consultant Type: Firm

Selection Method: Quality and Cost-Based Selection (QCBS)

Selection Title: Promoting an Interconnected, Inclusive, and Resilient Association of Southeast Asian Nations Capital Market

Package Name: International Legal Firm

Engagement Period: 3MONTH

Consulting Services Budget: USD 100,000

Source: International

Technical Proposal: Simplified Technical Proposal (STP)

Approval Number: 9924

Approval Date: 18-Dec-2019

Estimated Commencement Date: 01-Apr-2025

ADDITIONAL INFORMATION

Country of assignment: Brunei Darussalam; Cambodia; Indonesia; Lao People's Democratic Republic; Malaysia; Philippines; Regional; Singapore; Thailand; Viet Nam

TERMS OF REFERENCE

Primary Expertise: Legal

TOR Keywords: legal

Objective and Purpose of the Assignment

1. The Asian Development Bank (ADB) has been supporting the Association of Southeast Asian Nations (ASEAN) Capital Markets Forum (ACMF) initiatives through its regional technical assistance (TA) in implementing the ACMF Action Plan 2016-2020 as approved by the ASEAN finance ministers in 2016. The outcome of the TA is an increased number of cross-border capital market activities in ASEAN countries. The TA will have 3 outputs: (i) ASEAN asset classes and investor participation promoted, (ii) regulatory capacity and regulatory cohesiveness strengthened, and (iii) stakeholder interaction, cooperation, and coordination deepened. This assignment will support implementation and delivery of output 1 of the TA.

2. The ACMF is a high-level grouping of capital market regulators from all 10 ASEAN jurisdictions, namely Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Viet Nam. The ACMF’s primary goal is to develop a deep, liquid, and integrated regional capital market. 3. As part of the ACMF Action Plan 2021 – 2025 (the “AP 2021-2025”) and among its key initiatives for 2024, the ACMF intends to develop a set of guidance notes on disclosure requirements for wrappers of prospectuses for cross-border offerings of ASEAN Collective Investment Schemes (ASEAN CIS [“guidance notes”]) in host jurisdictions.4. The guidance notes are intended to help an ASEAN CIS operator identify the list of topics that each regulator (Malaysia, Philippines, Singapore, and Thailand) requires to be disclosed on the wrapper of prospectus when making cross-border offerings of ASEAN CIS in host jurisdictions. As a result, a wrapper can be produced in a timely manner and streamline the process involved in cross- border offerings of ASEAN CIS.