Hong Kong Together With Swiss Regulators Sign Fintech Cooperation Agreement


The Hong Kong Securities too Futures Commission (SFC) said today it has singed an understanding amongst the Swiss Financial Market Supervisory Authority (FINMA) to operate on coming together regulatory challenges inwards the rapidly-growing fiscal applied scientific discipline space.

Per the agreement, the SFC too FINMA volition portion information on emerging Fintech trends too technologies that "have the potential to supplement or disrupt the fiscal services industry."

Additionally, the novel bargain opens upward bilateral machinery for referrals of Fintech firms seeking to operate inwards the jurisdiction of the SFC and/or FINMA.

Ashley Alder, Chief Executive Officer the SFC, had this to say:
"It volition assist both regulators give-up the ghost on abreast of conception inwards fiscal services spell providing innovative Fintech firms seeking to railroad train too grow their businesses internationally enhanced channels for communicating amongst regulators."
In related news, UK's Financial Conduct Authority signed a similar agreement terminal calendar week amongst the US Commodity Futures Trading Commission.





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