Aug 13, 2013
August 2nd 2013 - On July 31, the Financial Services Agency (FSA) signed Memorandums of Cooperation (MoCs) with each of the Austrian Financial Market Authority (Finanzmarktaufsicht) and the Cyprus Securities and Exchange Commission related to the supervision of funds and fund managers conducting their business on a cross-border basis.
The MoCs are regulatory cooperation arrangements required under the Alternative Investment Fund Managers Directive, which was published and entered into force in July 2011. The contents of the MoCs are the same as the ones signed on July 19 with each of 26 national securities regulators in the EU.
(Note) The 26 national securities regulators are securities regulators of Belgium, Bulgaria, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Romania, Spain, Sweden, and the United Kingdom.
Through the MoCs, the FSA and the above securities regulators will exchange regulatory information upon request by each authority.
Re-disseminated by The Asian Banker