Thursday December 8 2016
News Source: Global Exchanges
Focus: Other
Type: General
Country: International
Link: http://www.hkma.gov.hk/eng/key-information/press-releases/2016/20161207-6.shtml
The UK’s Financial Conduct Authority (FCA) and the Hong Kong Monetary Authority (HKMA) have entered into a Co-operation Agreement (Agreement) to foster collaboration between the two regulatory authorities in promoting financial innovation.
According to the Agreement, the FCA and the HKMA will closely collaborate on a number of initiatives such as referrals of innovative firms, joint innovation projects, information exchange and experience sharing, to facilitate financial innovation in the United Kingdom and Hong Kong.
The Co-operation Agreement with the HKMA will reduce the barriers for authorised firms looking to grow to scale overseas and assist non-UK innovators interested in entering the market the FCA oversees.
For Hong Kong, the Agreement is a key initiative of the Fintech Facilitation Office (FFO) of the HKMA. It presents significant opportunities for financial and fintech companies to enhance their services and extend their global footprint. The Agreement also shows the HKMA’s commitment to build a vibrant fintech ecosystem.
Click on the above link for further details.