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SEC agrees to supervisory cooperation with Hong Kong SFC

Joe Mont | January 20, 2017

The Securities and Exchange Commission has announced a comprehensive arrangement with the Hong Kong Securities and Futures Commission (SFC) as part of its long-term strategy to enhance the oversight of regulated entities that operate across national borders.

Hong Kong is a major financial center and the new supervisory cooperation arrangement will augment the SEC’s and the SFC’s ability to share information about regulated entities that operate in the U.S. and Hong Kong, including investment advisers, broker-dealers, securities exchanges, market infrastructure providers, and credit rating agencies. The new arrangement expands upon the one from 1995 that was limited to investment management activities.

 “By creating a formal channel for exchanging supervisory information with the SFC, this new arrangement will enhance the SEC’s ability to supervise firms on a cross-border basis,” Paul...

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