The Dubai Financial Services Authority (DFSA) and the Thai Securities and Exchange Commission (SEC) have signed a Memorandum of Understanding (MoU) with the intention of fostering open communication on technologically enabled financial innovation in the financial services industry, including FinTech and Regulatory Technology (RegTech). Ian Johnston, the CEO of DFSA, and Ruevadee Suwanmonkol, the Secretary-General of SEC, both signed the MoU.
The agreement provides a framework for further co-operation between the two authorities on regulation, policy and trends in financial services and markets.
The financial services sector is witnessing unprecedented development, Johnston said, noting that regulatory authorities should be keen to exchange knowledge, to keep pace with the latest innovations in the markets.
The strategic partnership between the two sides has created a solid foundation for strengthening their bilateral cooperation in emerging technologies, he added.
Suwanmongkol said that the cooperation between the two sides will enable them to keep pace with the latest innovations and address related challenges.
The MoU’s signing highlights the commission’s keenness to enhance its relations with pioneering regulatory authorities, including DFSA, he added.
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