Abu Dhabi and Hong Kong enhance regulatory cooperation on cross-border investment management
Abu Dhabi, UAE: The Financial Services Regulatory Authority (FSRA) of ADGM and the Securities and Futures Commission (SFC) have entered into a Memorandum of Understanding (MoU) to enhance regulatory cooperation on the supervision of investment managers of collective investment schemes based in either jurisdiction.
The MoU was signed on the sidelines of the annual general meeting of the International Organisation of Securities Commissions (IOSCO), held in Doha, the State of Qatar. The SFC's Chief Executive Officer, Ms Julia Leung, and its Executive Director of Investment Products, Ms Christina Choi, joined FSRA's Chief Executive Officer, Mr Emmanuel Givanakis, at the meeting held yesterday.
The MoU establishes a framework for consultation, cooperation and the exchange of information in connection with the supervision and oversight of regulated entities engaged in cross-border fund management, investment management or advisory activity.
'This MOU between the SFC and ADGM's FSRA marks an important milestone in forging closer regional market connectivity between Hong Kong and the Middle East and deepening regulatory cooperation between the SFC and the FSRA,' said Ms Leung. 'Specifically, the agreement would facilitate cross-market industry collaborations between ADGM and Hong Kong, especially on investment delegation and fund offerings through a master-feeder structure.'
Commenting on the agreement, Emmanuel Givanakis, CEO of ADGM's FSRA, said, 'This MoU marks a significant step in strengthening our regulatory cooperation with the SFC. By enhancing information exchange between both authorities, we are not only improving oversight of cross-border fund management, investment, and advisory activities but also ensuring that both jurisdictions benefit from greater transparency and more effective regulatory practices. This partnership fosters mutual trust and strengthens the stability and integrity of our respective financial markets, promoting investor protection and reinforcing the global financial ecosystem."
About ADGM
ADGM is the international financial centre (IFC) of the capital city of the United Arab Emirates, which opened for business on 21 October 2015. ADGM augments Abu Dhabi's position as a leading financial centre and a business hub, serving as a strategic link between the growing economies of the Middle East, Africa, South Asia, and the rest of the world.
Operating within an international regulatory framework based on the direct application of English Common Law, ADGM governs the entirety of Al Maryah Island and Al Reem Island, collectively designated as the financial free zone of Abu Dhabi.
ADGM is ranked as one of the most preferred and top-ranking IFCs in the Middle East and Africa region. Its progressive and inclusive business ecosystem fosters growth, resilience, and optimism for global financial and non-financial institutions. Growing synergies between ADGM and multiple jurisdictions have positioned the centre as one of the world's most advanced, diverse, and progressively governed financial hubs.
For more details on ADGM, please visit www.adgm.com or follow us on LinkedIn and Instagram: @ADGM X: @adglobalmarket
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E: media@adgm.com
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