Consultation Papers

Public Consultation

ASMEC initiates policy proposals from various sources such as feedback from firms, the European Union, or international standard setters such as IOSCO, FATF, IAIS, and the Basel Committee on Banking Supervision. ASMEC is required by law to consult the public for at least 30 days on any proposed legislation, unless any delay would be prejudicial to the public interest.

We publish our Consultation Papers and invite comments from the public. Each Consultation Paper includes a summary of the draft legislation and the purpose for introducing it. After evaluating public comments and consulting with the relevant government bodies, the ASMEC Board of Directors approves the legislation.

Draft Laws

When the legislation is a law, the ASMEC Board of Directors recommends the approved draft to the relevant government authority for submission to the Head of State or legislative body for consideration and, if approved, enactment.

Draft Rules

When the legislation is a Rule or a Code, the ASMEC Board of Directors has the power to make and issue these directly.

Publication of Consultation Papers

ASMEC publishes all past and current Consultation Papers for public access.