The US Securities and Exchange Commission (SEC) has signed a memorandum of understanding (MoU) with the Hong Kong Securities and Futures Commission (SFC) to strengthen cross-border cooperation.
The two regulators have agreed on consultation, cooperation and exchange of information for the supervision of regulated entities operating on a cross-border basis in the two jurisdictions.
The agreement also covers exchanges and other trading venues, market intermediaries, investment funds or companies, clearing agencies as well as credit rating agencies.
“Through the MoU, the SFC and the SEC express their willingness to cooperate with each other in the interest of fulfilling their respective regulatory mandates,” SFC said.
“Hong Kong is a major financial center and the new supervisory cooperation arrangement will augment the SEC’s and the SFC’s ability to share information about regulated entities that operate in the U.S. and Hong Kong, including investment advisers, broker-dealers, securities exchanges, market infrastructure providers, and credit rating agencies, SEC added.