ASIC's Chairman, Mr Jeffrey Lucy, today welcomed the Memorandum of Understanding (MOU) entered into between ASIC and the Dubai Financial Services Authority (DFSA).
The MOU, signed by Mr Lucy and Mr David Knott, Chief Executive of the DFSA, establishes a framework for mutual assistance and the exchange of information between ASIC and the DFSA.
‘The MOU will enhance the supervision of cross-border transactions and create an environment conducive to the prevention of fraud’, Mr Lucy said.
‘I am pleased that ASIC and the DFSA are working together to strengthen the international network of securities regulators’, he said.
Background
The DFSA is an independent, integrated regulatory authority responsible for the regulation of all financial and ancillary services conducted in or from the Dubai International Financial Centre, a new financial centre established to position Dubai as a recognised hub for institutional finance and the regional gateway for capital and investment to the Middle East.