Hong Kong’s Securities and Futures Commission has entered a memorandum of understanding with the Independent Commission Against Corruption, to boost collaboration including a three-day workshop that involved knowledge sharing at the senior level.
The two agencies signed the MoU yesterday which covers various matters including «referral of cases, joint investigations, exchange and use of information, mutual provision of investigative assistance, as well as capacity building,» according to the ICAC.
Present at the MoU as representatives for the two agencies were Ricky Yau Shu-chun, ICAC’s deputy commissioner and head of operations, and Thomas Allan Atkinson, executive director of enforcement for the SFC.
«The MoU sets out the framework for co-operation and collaboration between the two agencies in various aspects, showing our common determination in maintaining a level-playing field for doing business in Hong Kong,» Yau said.
«The arrangement under the MoU will enable the SFC to perform its statutory duties with greater efficiency and effectiveness in combating financial crime and maintaining the integrity of Hong Kong’s securities and futures market,» Atkinson added.
Three-Day Workshop
The three-day workshop, which commences today, will focus on corruption at listed companies and market misconduct. According to the ICAC's release, 10 participants from each agency will join to share knowledge regarding «arrest and search operations, interviewing suspects, preparation for court proceedings, computer forensics as well as market manipulation and insider dealings».
«The workshop, the first of its kind, will allow seasoned graft-fighters and market regulation experts from the ICAC and the SFC to pool their professional knowledge to expound on a myriad of topics,» the release said.
