Hong Kong regulator signs MoU with US counterpart

Added 20th May 2016

Hong Kong’s Securities and Futures Commission (SFC) has signed an agreement with the Financial Industry Regulatory Authority (FINRA) of the United States regarding the supervision and oversight of regulated entities operating cross border between the two jurisdictions.

Hong Kong regulator signs MoU with US counterpart

The regulators have agreed to cooperate in the interests of fulfilling their respective regulatory mandates.

The memorandum of understanding (MoU) covers financial services companies regulated by either the SFC or FINRA operating in both jurisdictions. 

Areas of particular interest include investor protection, promoting the competence and integrity of cross border regulated entities, fostering market and financial integrity, reducing systemic risk, and maintaining financial stability. 

The MoU, which came into effect on 9 May 2016, was reached, “in view of the growing globalisation of the world’s financial markets and the increase in cross border operations and activities of regulated entities”.

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About Author

Kirsten Hastings

Senior Reporter

Kirsten is a senior reporter for International Adviser, covering global news stories about the financial services industry. She joined Last Word Media in October 2015 after two years working as a reporter covering the staffing and recruitment industry. Kirsten has a Masters in Financial Journalism from the University of Stirling. 


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