The Securities Commission Malaysia (SC) has inked cooperation agreement with Monetary Authority of Singapore (MAS) and Hong Kong Securities and Futures Commission (SFC) to support fintech innovation.
Under the agreement, the regulators will share information on emerging trends and regulatory developments as well as explore joint innovation projects in the fintech space.
The regulators will also refer innovative fintech firms looking to foray into each other’s markets.
SC chairman Tan Sri Ranjit Ajit Singh said: “The fintech bridges with major markets in the Asia-Pacific and the Middle East form part of the SC’s digital strategy, and build on the already well-established relationships that the SC has with these regulators.
“Such efforts will promote innovation within capital markets, and enhance the cross-pollination of digital finance concepts which will benefit financial services institutions, startups and investors alike.”
SC recently also signed a fintech cooperation agreement with the Dubai Financial Services Authority (DFSA). Earlier this year, it signed a similar pact with the Australian Securities and Investments Commission (ASIC).