On 17 February 2016, the Jersey Financial Services Commission (JFSC) and the Financial Services RegulatoryAuthority (FSRA) of Abu Dhabi Global Market (ADGM) signed a Memorandum of Understanding (MoU). The MoU will allow the JFSC and ADGM to exchange confidential regulatory information and co-operate with each other regarding the supervision and regulation of financial systems under their respective authority. Geoff Cook, CEO, Jersey Finance commented:
“This Memorandum of Understanding is a further reflection of our concerted efforts to build strong, quality links with the GCC. The region remains a key frontier market and it is positive news to see Jersey broadening and deepening relationships with key markets, such as Abu Dhabi. This latest agreement is part of an ongoing programme for Jersey, demonstrating its commitment to developing frameworks for international cooperation and reinforcing the island’s position as a transparent and well-regulated International Finance Centre.”
Read the full JFSC press release here.