Signed on 6 September by William Mason, director general of the GFSC, and Richard Teng, chief executive officer of the FSRA, the MoU is designed to promote cross-border ventures and the exchange of information.
“It represents a further demonstration of Guernsey’s commitment to working with overseas regulatory authorities and to playing its part in addressing matters of global interest and concern in the area of financial services regulation,” said Mason.
Zoë Cousens, Guernsey Finance’s Middle East representative, said the agreement would aid her work in the region.
Based in Dubai for the past year, she acts as the main point of contact for Middle Eastern firms and clients interested in Guernsey as well as being an on-the-ground presence in the region for Guernsey service providers looking to further their work in the Middle East.
“The new partnership with the Guernsey Financial Services Commission allows both regulators to better understand the needs of our stakeholders and facilitate future cross-border efforts. I look forward to working closely with our new partner on relevant initiatives that will bring mutual enhancements and benefits to ecosystems,” said Teng.