The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) and the Securities and Futures Commission (SFC) of Hong Kong have entered into a MoU to strengthen regulatory cooperation in the supervision of investment managers of collective investment schemes based in either jurisdiction.
The agreement was signed on the sidelines of the annual general meeting of the International Organisation of Securities Commissions (IOSCO), held in Doha, Qatar.
The MoU sets out a framework for consultation, cooperation, and the exchange of information relating to the supervision and oversight of regulated entities involved in cross-border fund management, investment management, or advisory activities.
“This MoU between the SFC and ADGM’s FSRA marks an important milestone in forging closer regional market connectivity between Hong Kong and the Middle East and deepening regulatory cooperation between the SFC and the FSRA,”
said Julia Leung, SFC’s Chief Executive Officer.
“Specifically, the agreement would facilitate cross-market industry collaborations between ADGM and Hong Kong, especially on investment delegation and fund offerings through a master-feeder structure.”
Emmanuel Givanakis, Chief Executive Officer of the FSRA added,
“By enhancing information exchange between both authorities, we are not only improving oversight of cross-border fund management, investment, and advisory activities but also ensuring that both jurisdictions benefit from greater transparency and more effective regulatory practices.”
Featured image credit: ADGM
