Securities & Futures Commission of Hong Kong


As financial markets become more complex and operate across borders, it is increasingly vital that we stay closely in touch with the international regulatory community to keep abreast of trends, changes, risks and opportunities.

In recent years, we see a pressing need to more clearly articulate Asia's policy priorities as it is clear that "one-size-fits-all" solutions may not work well in all situations. We will continue to play a leading role in examining the impact of international reforms on the Asia Pacific region with an aim of identifying common interests and fostering cross-border collaboration. While organisations such as the Financial Stability Board (FSB), the International Organization of Securities Commissions (IOSCO) and the Group of Twenty Finance Ministers and Central Bank Governors take the lead in setting global standards, we contribute to global regulatory initiatives by participating in their task forces and committees to work on implementing financial regulatory reforms, enhancing standards and facilitating market development. Our focus is on ensuring that Asia embeds the right type of regulation geared to the specific needs of the region's growth opportunities.

Our cross-border cooperative arrangements mainly focus on three areas: investigatory assistance, exchange of information, and market or product-related arrangements.

Investigatory assistance and exchange of information

The globalisation of securities and derivatives markets means that cross-border collaboration is crucial to enable us to effectively combat breaches of our laws and rules.

We document our collaborative arrangements in the form of memoranda of understanding, confidentiality undertakings, memoranda regarding administrative arrangements and memoranda of regulatory cooperation. One of the more important agreements which facilitates cross-border enforcement is the IOSCO Multilateral Memorandum of Understanding (MMOU)—this was the first global information-sharing arrangement among securities regulators.

In March 2017, IOSCO approved the Enhanced MMOU, which is built upon the current MMOU and provides additional tools to meet the challenges of combating financial misconduct in an increasingly complex, inter-connected and technology-driven global financial market.

Please click on the following lists of cooperative arrangements for:

Market or product-related arrangements

We signed arrangements setting out the common objectives and laying down the basis for cross-border cooperation with overseas regulators to promote the development of a number of mutually agreed investment products. 

Click here for a list of market or product-related cooperative arrangements.

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