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June 12, 2018

SFC and CBIRC sign MoU for regulatory cooperation

The Securities and Futures Commission (SFC) of Hong Kong and the China Banking and Insurance Regulatory Commission (CBIRC) have inked a memorandum of understanding (MoU) for cross-border regulatory cooperation.

Under the partnership, the two watchdogs will share information for the supervision of cross-border regulated entities.

The regulators will cooperate in the areas of investor protection as well as promote the integrity of cross-border regulated entities.

Through the agreement, the regulators also aim to curb systemic risk and maintain financial stability.

The latest deal comes close on the heels of SFC’s fintech cooperation agreement with the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA).

SFC also partnered with several other regulators in the recent times, including the Swiss Financial Market Supervisory Authority (FINMA), the Dubai Financial Services Authority (DFSA), and the Securities Commission Malaysia, to establish fintech ties.

 

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