Friday June 24 2016

News Source: Global Exchanges

Focus: Other

Type: General




The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) and the Banking Regulation and Supervision Agency of Turkey (BRSA) entered into a Memorandum of Understanding (MoU) to co-operate and exchange supervisory and enforcement information, as well as foster the implementation of high regulatory standards in both jurisdictions.

The MOU was signed on 17 June 2016.

The agreement reinforces the following aspects:

  • ADGM’s commitment to build stronger and closer ties with well-established financial centres in the region and beyond & paving the way for close collaboration;
  • Provides a framework for BRSA and FSRA to render mutual assistance, exchange regulatory information and co-operate in supervision of cross-border establishments;
  • The MOU enables proactively sharing information of cross-border entities, providing technical assistance as well as facilitating knowledge sharing to strengthen high regulatory standards and practices in both jurisdictions.

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