Worldwide:
Dubai And Hong Kong Sign Cooperation Agreement
06 September 2017
K&L Gates
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On 28 August, the Dubai Financial Services Authority (DFSA) and
the Securities and Futures Commission (SFC) of Hong Kong entered
into a co-operation agreement
to establish a framework for mutual assistance to keep abreast of
the development and application of FinTech in their jurisdictions.
Under the agreement, the SFC and the DFSA will cooperate on
information sharing, potential innovation projects and referrals of
innovative firms seeking to enter one another's markets.
The agreement follows the launch of:
- the SFC's FinTech Contact Point
in March 2016 to enhance communication with businesses involved in
the development and application of FinTech and RegTech in Hong
Kong. Its purposes is to facilitate the FinTech and RegTech
community's understanding of the current regulatory regime in
Hong Kong and to enable the SFC to stay up to date with industry
developments; and
- the DFSA's regulatory FinTech
regime (see some of our earlier posts on FinTech in Dubai –
crowdfunding,
accelerator and
innovation testing licences)
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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