US and Hong Kong augment data sharing deal
20 January 2017 Washington DC
Image: Shutterstock
The US Securities and Exchange Commission has renewed its ties with the Hong Kong Securities and Futures Commission (SFC) to further strengthen oversight of entities operating in both markets.
The new agreement builds on a foundation agreement signed in 1995 and will allow for easier data sharing on the activities of their market’s constituents, such as investment advisers, broker-dealers, securities exchanges, vendors, and credit rating agencies.
The original agreement was limited to investment managers.
Paul Leder, director of the SEC’s international affairs office, said: “By creating a formal channel for exchanging supervisory information with the SFC, this new arrangement will enhance the SEC’s ability to supervise firms on a cross-border basis.”
The new agreement builds on a foundation agreement signed in 1995 and will allow for easier data sharing on the activities of their market’s constituents, such as investment advisers, broker-dealers, securities exchanges, vendors, and credit rating agencies.
The original agreement was limited to investment managers.
Paul Leder, director of the SEC’s international affairs office, said: “By creating a formal channel for exchanging supervisory information with the SFC, this new arrangement will enhance the SEC’s ability to supervise firms on a cross-border basis.”
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