Swiss and Hong Kong financial market regulators have inked an agreement on fintech, already the fifth such deal for the Hong Kong authority.
Hong Kong’s Securities and Futures Commission (SFC) and its Swiss counterpart, the Financial Market Supervisory Authority (Finma), signed a framework for cooperation on financial technology (fintech), the Hong Kong regulator said Tuesday on its website.
The agreement between the two wealth hubs will see SFC and Finma cooperate to share information on financial technology trends, developments and related regulatory issues as well as on organizations which promote innovation in financial services.
Cross-Border Support
The cooperation agreement with Finma, which came into effect on February 23, 2018, adds to already established cooperation arrangements signed with regulators in Australia, Dubai, Malaysia and the U.K.
In past cases, financial technology agreements enabled the parties to refer fintech businesses to each other for support provided through their respective fintech functions.
