Tuesday June 14 2016

News Source: Global Exchanges

Focus: Other

Type: General




The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) and the Cayman Islands Monetary Authority (CIMA) have signed a Memorandum of Understanding (MoU) putting in place a framework for mutual assistance and exchange of information to foster high standards of regulatory practice and compliance in both jurisdictions.

The agreement was signed on 9 June 2016.

The MoU will serve to promote the integrity, efficiency and financial soundness of financial institutions by improving the effective regulation, enhancing the supervision of cross-border transactions, and preventing fraudulent and other prohibited practices in ADGM and the Cayman Islands.

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