Hong Kong inks deal with Mainland for supervision of cross-boundary regulated entities

The SFC and CBIRC will cooperate on investor protection amongst other key areas.

The Securities and Futures Commission (SFC) has entered into a memorandum of understanding with the China Banking and Insurance Regulatory Commission (CBIRC) to enhance cooperation and exchange of information with regards to the supervision of cross-boundary regulated entities.

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The deal facilitates the CBIRC and the SFC to cooperate in the areas of investor protection and promote the competence and integrity of Cross-Boundary Regulated Entities.

The MOU also aims to foster market and financial integrity as well as reduce systemic risk and maintain overall financial stability.

The SFC also inked a deal with German banking, securities and insurance regulator with the aim of providing consultation, cooperation and exchange of information in connection with the supervision and oversight of cross-border regulated entities between Hong Kong and Germany.