Gibraltar and Swiss authorities sign MoU agreement
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Gibraltar and Swiss authorities sign MoU agreement 17 December 2014Gibraltar Reporter: Stephanie Palmer
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The Swiss Financial Markets Supervisory Authority (FINMA) and the Gibraltar Financial Services Commission (FSC Gibraltar) have signed a memorandum of understanding (MoU) to work together in the supervision and oversight of alternative investment fund managers.
The MoU is designed for mutual assistance between the two jurisdictions, increasing the cross-border activities between them, in line with the general globalisation of the world’s financial markets.
It involves closer monitoring of alternative investment fund managers, as well as their delegates and depositories that operate between the Switzerland and Gibraltar.
Ongoing informal consultations will be supplemented by more in-depth cooperation as and when it may be required. The two jurisdictions will also share non-public information in a written exchange.
The two authorities plan to cooperate while adhering to their respective regulatory requirements and the alternative investment fund managers directive, with particular focus on investor protection, fostering market and financial integrity, while also maintaining confidence in stability.
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