SFC signs pact with Israel regulator

Hong Kong's Securities and Futures Commission has entered into a co-operation agreement with the national securities regulator of Israel to establish a framework for cooperation on financial technology.

Under the agreement, the SFC and the Israel Securities Authority will cooperate on information sharing, potential joint innovation projects and referrals of innovative firms seeking to enter one another’s markets, the regulator said.

“This agreement underscores the SFC’s continued efforts to strengthen regulatory cooperation with counterparts and to keep abreast of innovation in financial services,” said SFC chief executive officer Ashley Alder. “We look forward to working closely with the ISA to provide innovative firms seeking to develop and grow their business with internationally enhanced channels for communication with regulators.”

ISA chairwoman Anat Guetta said: “The agreement with the SFC is an additional milestone of our fruitful cooperation, and is another step that will provide the ISA and many Israeli companies with a broad international perspective on the latest trends and opportunities that will support fintech growth in Israel and worldwide.”