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."
Slendebroek CEO since 2014
For clients and social change
Our weekly heads-up for advisers
According to Cicero report
Adds 24 staff, three offices and £275m AUA