Hong kong: The Dubai Financial Services Authority (DFSA) and the Securities and Futures Commission (SFC) have signed a Memorandum of Understanding (MoU) to enhance their cooperation in the regulatory oversight and supervision of collective investment scheme managers in each other’s markets. This collaboration aims to ensure compliance, governance, and cross-border regulatory alignment.
According to Emirates News Agency, the MoU was signed during the 10th Belt and Road Summit in Hong Kong, a significant event attended by key figures such as the Chief Executive of Hong Kong SAR, John KC Lee, SFC Chairman Dr. Kelvin Wong, SFC CEO Julia Leung, and DFSA Chief Executive Mark Steward. The presentation of the MoU at this summit highlights the importance of cross-border regulatory collaboration and the growing ties between Hong Kong and Belt and Road jurisdictions.
The MoU, signed by Mark Steward and Julia Leung, sets up a framework for consultation, cooperation, and information exchange to improve the regulators’ supervision and oversight of entities involved in cross-border investment management or advisory activities. This development is the result of joint efforts by the SFC and the DFSA over the past year, which included a high-level meeting and a co-hosted roundtable with leading asset managers in Hong Kong.
Mark Steward expressed that the MoU will enable firms to operate with confidence and integrity in each other’s markets, demonstrating a shared commitment to regulatory excellence and cross-border innovation. Julia Leung noted that the partnership strengthens regional market connectivity, offering long-term benefits for Hong Kong and the Dubai International Financial Centre as international financial hubs, especially amidst ongoing global challenges.