The Guernsey and Hong Kong regulators have moved to improve cross-border trading between the two jur...
The Guernsey and Hong Kong regulators have moved to improve cross-border trading between the two jurisdictions.
By signing a Letter of Intent with the Guernsey Financial Services Commission (GFSC), Hong Kong's Securities & Futures Commission (SFC) has established its first such link with a regulatory body outside Asia.
The letter provides a framework for the supervision of investment products and cross-border trading between the two jurisdictions. It builds on an agreement between the GFSC and the SFC in 1992. In this agreement Guernsey Class A collective investment schemes were recognised as jurisdiction schemes under the SFC's Code on Unit Trusts and Mutual Funds.
Peter Neville, director general of the GFSC, said: "The Guernsey Commission and the SFC have developed a close working relationship over the years. The Letter of Intent is an important further step in deepening that relationship. We look forward to working together."
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