On 25 August 2017, the Securities and Futures Commission (SFC) and the Hong Kong Police (HKP) signed a memorandum of understanding (MoU) to formalise and strengthen the parties’ co-operation in combating financial crime.
The MoU, which became effective on 25 August 2017, covers a variety of matters, including referral of cases, joint investigations, exchange and use of information, and the mutual provision of investigative assistance. The MoU also establishes a framework for closer collaboration on policy, operational, and training matters.
Although the HKP has in the past provided support to the SFC in investigations, the MoU will foster a closer working relationship between the parties and will help them discharge their respective duties more effectively.
The MoU demonstrates that financial crime remains a regulatory priority for Hong Kong’s financial market regulators.