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January 2, 2018

CSRC and SFC sign MoU to improve cooperation on futures markets

Financial regulators China Securities Regulatory Commission (CSRC) and the Securities and Futures Commission (SFC) of Hong Kong have signed a memorandum of understanding (MoU) on supervisory and enforcement cooperation on matters concerning futures.

The new agreement, that supersedes the earlier MoU signed between the two parties in 1995, is expected to facilitate regulatory and enforcement cooperation in the mainland China and Hong Kong futures markets.

Both the regulators agreed to amend the earlier MoU due to growing interaction between the two futures markets and the necessity of closer regulatory cooperation.

The new MoU will improve supervisory assistance, enforcement cooperation and enable information exchange on multiple issues pertaining the futures market including cross-boundary derivatives, futures exchanges and futures brokers.

It is also expected to encourage healthy development of individual futures markets in the mainland and Hong Kong.

In September, SFC introduced a regulatory sandbox that will enable the companies to carry out regulatory activities using fintech.

Companies with proper licences with the intension to conduct regulated activities are eligible for this SFC Regulatory Sandbox.

The authority is also monitor the companies and work with them to hone their business models.

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