18 July 2017, Abu Dhabi, UAE: The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (‘ADGM’), the International Financial Centre in Abu Dhabi, has signed a bilateral Memorandum of Understanding and Cooperation (‘MoU’) with the Cyprus Securities and Exchange Commission (‘CySEC’). The MoU was signed by Mr Richard Teng, Chief Executive Officer of the FSRA of ADGM and Mrs Demetra Kalogerou, Chairman of CySEC.
The signing of the MoU will further enhance the cooperation between the two supervisory Authorities, aiming specifically to facilitate the exchange of relevant and appropriate information and technical expertise.
The agreement constitutes a framework for CySEC and FSRA to conduct efficient and effective investigations of potential violations of the legislation regarding the securities market. Both Authorities will work closely together to uphold the integrity of the markets, safeguard the interests of investors and foster the robust development of each other’s securities market.
Furthermore, the MoU is expected to contribute to increasing the fruitful business ties between the two countries, benefiting both national securities markets.