The MoU provides a framework for the JFSC and Finanstilsynet to exchange confidential regulatory information and co-operate with each other regarding the supervision and regulation of firms under their respective authority.
John Harris, the Director General of the JFSC, commented:
“I am delighted to sign this Memorandum of Understanding with Denmark’s financial service regulator – the first such bilateral accord between the (Jersey) Commission and a regulator in one of the Nordic countries. The MoU follows increased dialogue between us and our Danish counterparts over the past 12 months.
With the increasingly international nature of financial services, it is important that regulators are in a position to co-operate closely. This Memorandum will assist in that regard as it provides a formal framework for the exchange of regulatory information and mutual assistance for the purpose of ensuring compliance by financial service businesses with both jurisdictions’ regulatory requirements.”
A copy of the MoU can be downloaded from the JFSC’s Website: http://www.jerseyfsc.org/the_commission/international_co-operation/list-of-memoranda.asp
The JFSC has MoUs (either on a bilateral or multilateral basis) with regulators in over 90 countries.