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Dubai regulator signs info sharing deal with Australia

By International Adviser, 6 Aug 15

The Dubai Financial Services Authority (DFSA) and the Australian Prudential Regulation Authority (APRA) have entered a memorandum of understanding to “share information and cooperate in the supervision of financial institutions”.

The Dubai Financial Services Authority (DFSA) and the Australian Prudential Regulation Authority (APRA) have entered a memorandum of understanding to “share information and cooperate in the supervision of financial institutions”.

The agreement was signed on behalf of the DFSA by chief executive Ian Johnston and APRA chairman Wayne Byre in Sydney.

Johnston said much has been done to advance international standard-setters in the areas of insurance and banking supervision.

“This bilateral memorandum of understanding with APRA reflects the presence of a number of Australian firms offering financial services in the DIFC and reflects each Authority’s commitment to co-operation in relation to their regulation,” he said.

It follows similar arrangements with supervisors in the UK, Germany, Italy, France, the US, India, China, Japan, and Singapore.

Tags: Dubai

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.