Hong Kong’s Securities and Futures Commission (SFC) and the Dubai Financial Services Authority (DFSA) have signed a Memorandum of Understanding to strengthen their collaboration on the regulatory oversight of collective investment scheme managers in each other’s markets.
The MoU follows a recent roundtable with leading asset managers in Hong Kong jointly hosted by the SFC and the DFSA, and pledges to establish a framework for consultation and the exchange of information to better supervise cross-border investment management and advisory activities.
The MoU was signed into effect by the SFC’s CEO Julia Leung and the DFSA’s CEO Mark Steward during the 10th Belt and Road Summit in Hong Kong.
Leung said: “The strengthened SFC/DFSA partnership underscores our shared commitment to bolstering regional market connectivity to create mutual long-term benefits for Hong Kong and DIFC as international financial hubs.
“This new milestone is set to reinforce Hong Kong’s pivotal role on the China-Middle East Corridor amid ongoing global challenges.”
Steward said the role of Dubai and the United Arab Emirates as a gateway between Asia and the Middle East “is more vital than ever”.
“Our partnership with the SFC reflects a shared commitment to regulatory excellence, supervision and cross-border innovation – ensuring that firms based in each other’s markets can operate with confidence, integrity, and impact.
“Together, we are laying the regulatory foundations for international capital to be mobilised ever more responsibly.”
