SA and Abu Dhabi’s financial regulators sign deal to collaborate
THE Financial Services Board (FSB) has established a formal co-operation agreement with Abu Dhabi’s financial services regulator, for the exchange of information.The two regulators have signed a memorandum of understanding "to enable greater collaboration on regulatory matters and facilitate the exchange of information to promote the robustness and maintain the integrity of the financial industries in both countries," the FSB said in a statement Tuesday.READ THIS: Financial firms of the future need to do things differentlyThe memorandum of understanding sets out a framework for mutual assistance and co-operation to ensure compliance with the laws and regulations of both countries. Abu Dhabi, the capital of United Arab Emirates, is an international financial centre with a zero tax rate.The Abu Dhabi Global Market (ADGM), which opened for business in October 2015, consists of three independent authorities: a registration authority, a financial services regulatory authority and a judic...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.