The Securities and Exchange Commission (SEC) and the Dubai Financial Services Authority (DFSA), the city.Dubai UAE has signed a Memorandum of Understanding (MoU) in the field of cooperation on innovation and technologyfinance exchange technological information to promote innovation in financial services covering Financial Technology (FinTech) and Technology Adoption in Regulatory Affairs (RegTech) on October 18, 2022.
The agreement is an important starting point for strengthening cooperation between the SEC and the DFSA in the exchange of regulatory information on financial services. as well as the development of financial innovation and technology in the capital markets of both countries.
Mr. Ian Johnston, Chief Executive Officer, DFSA said, “With rapid developments in the financial services industry, regulators need to focus on exchanging knowledge with each other to keep up with changes. This cooperation is an important basis for strengthening cooperation between the two countries.
DFSA is confident that the knowledge exchange between DFSA and SEC on emerging technologies affecting the global financial system will contribute to the development of the economies of both countries. “
Ms. Ruenwadee Suwanmongkol, Secretary General of the SEC, said: “This partnership is an important initiative to help regulators of both countries keep pace with the rapid development of innovation and to address the MoU. ‘commitment of the SEC to strengthen its relationships with key regulators, including the DFSA, in particular that The close collaboration between the DFSA and the SEC will represent an important step in supporting the development of innovation and governance of the capital markets of both countries “.
Proofreading … Sure Silawong
