The Hong Kong Securities and Futures Commission (SFC) has entered into a memorandum of understanding (MoU) with the UK Financial Conduct Authority (FCA) providing for consultation, cooperation and exchange of information in connection with the supervision and oversight of regulated entities that operate on a cross-border basis in Hong Kong and the United Kingdom.
The MoU (came into effect on 7 July 2017), which covers financial market participants and other entities that are regulated by the SFC or the FCA, enables the SFC and the FCA to cooperate with each other in the interest of fulfilling their respective regulatory mandates.
Just two months ago the SFC has also entered into a cooperation agreement with the FCA to foster collaboration in support of financial technology (Fintech) innovation.