DIFC regulator partners with Hong Kong

The regulator of the Dubai International Financial Centre (DIFC) has agreed to collaborate with a regulator in Hong Kong on financial technology.

The Dubai Financial Services Authority signed the agreement with the Securities and Futures Commission (SFC). The two bodies say they will share information, refer companies to each other’s markets and provide regulatory guidance.

Ian Johnston, chief executive of the Dubai authority, said it was a “strategic priority” to foster innovation in the DIFC.

“This agreement with Hong Kong’s SFC deepens cooperation between our two markets and will build a common understanding of the principles of good innovation,” he said.

The agreement is reminiscent of a partnership deal signed by the Abu Dhabi Global Market (ADGM) with an authority that oversees enterprise in Hong Kong and Shenzhen.

ADGM agreed the partnership with the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone in July.

©2017 funds global mena

Related Articles