U.K. and Hong Kong regulators to cooperate on cross-border supervision
On July 20, the Hong Kong Securities and Futures Commission and the U.K. Financial Conduct Authority announced they have entered into a memorandum of understanding providing for consultation, cooperation and exchange of information in connection with the supervision and oversight of regulated entities that operate on a cross-border basis in Hong Kong and the U.K. The agreement covers on-site visits, the sharing of examination reports, information about internal controls, and various other activities and requests related to supervision.
