Jersey-based companies should gain better access to the Hong Kong market for their investment produc...
Jersey-based companies should gain better access to the Hong Kong market for their investment products after a Letter of Intent was signed between the two jurisdictions.
The Letter, signed by the Jersey Financial Services Commission (FSC) and Hong Kong's Securities and Futures Commission (SFC), has also been billed as providing a framework for enhanced co-operation between the two regulatory authorities.
David Carse, director general of the FSC, said: "Co-operation under the Letter will facilitate access to Hong Kong's markets for Jersey investment products and help develop the range of products that are available for distribution in Jersey.
"It will also provide a formal basis for exchanging views with an important Asian supervisor on matters of common interest."
Aims of deal
Equivalence of regulatory frameworks in each jurisdiction for regulation, supervision and marketing of investment products.
Mutual recognition of investment products.
Strengthening of regulatory co-operation and assistance over cross-border supervision of fund management activities.
Partner Insight: For Blackfinch, the arrival of its IHT portfolio services was a 'natural evolution' in the group's offering and points to an established track record of returning cash to investors.
Senior Managers Regime
Interest rate outlook unchaged
FCA made demands last week