SEC Thai – SEC Dubai, United Arab Emirates Signing a memorandum of understanding to exchange technology information to promote financial innovation
Securities and Exchange Commission (SEC) and Dubai Financial Services Authority (DFSA), Dubai, United Arab Emirates Signing a Memorandum of Understanding (MoU) under the framework of cooperation on innovation and financial technology to exchange technology information for promoting 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 enhancing cooperation between the SEC and 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, DFSAsaid, “With the developments in the financial services sector occurring rapidly Regulators need to focus on exchanging knowledge with each other to keep pace with the changes. This collaboration is a cornerstone for strengthening cooperation between the two countries. DFSA believes that the exchange of knowledge between DFSA and the SEC on new technologies affecting the system Global finance will contribute to the economic development 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 address new challenges. The SEC is committed to enhancing its relationship with leading regulators, including DFSA. The close cooperation between DFSA and the SEC will be an important step forward in supporting innovation development and governance of the capital markets of both countries.”
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