On 28 August 2017, the Securities and Futures Commission (SFC) and the Dubai Financial Services Authority (DFSA) signed a co-operation agreement to collaborate on the promotion of financial innovation in Hong Kong and Dubai.
The co-operation agreement sets out a framework for collaboration between the SFC and the DFSA and covers matters such as referrals, information sharing and joint innovation projects.
At the end of last year, the Hong Kong Monetary Authority (HKMA) and the UK Financial Conduct Authority signed a similar co-operation agreement to promote fintech innovation in the UK and Hong Kong. The co-operation undertaking between the SFC and the DFSA is a further step by Hong Kong regulators in their commitment in developing fintech in Hong Kong.
For more information, please see a copy of the co-operation agreement between the SFC and the DFSA and our previous blog post on the co-operation agreement between the HKMA and the FCA.