PRESS RELEASE 9 APRIL 2014
MEMORANDUM OF UNDERSTANDING WITH THE CHINESE SECURITIES REGULATOR
At a ceremony in Beijing on 9 April 2014, the Jersey Financial Services Commission (the “Commission”) and the China Securities Regulatory Commission (the “CSRC”) signed a Memorandum of Understanding (“MoU”) that establishes a framework for mutual assistance and the exchange of regulatory information.
The MoU was signed by the Director General of the Commission, Mr. John Harris and Vice Chairman of the CSRC, Mr. Liu Xinhua.
John Harris said, “I am delighted to sign this Memorandum of Understanding with the China Securities Regulatory Commission. With the provision of cross-border financial services between Jersey and China expected to increase in the coming years, it is important that the JFSC and the CSRC are in a position to co-operate closely. This Memorandum will assist in that regard as it establishes a formal framework for the exchange of regulatory information and mutual assistance for the purpose of ensuring compliance by financial service businesses with each jurisdiction’s regulatory requirements.”
The Commission has MoUs (either on a bilateral or multilateral basis) with regulators in over 90 countries.
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For further information please contact: -
|John Harris -
Jersey Financial Services Commission
Tel: + 44 (0) 1534 822028
Fax: + 44 (0) 1534 822002
- Notes to Editors -
The Commission is responsible for the regulation, supervision and development of the financial services industry in the Island of Jersey for banking, collective investment funds, fund services business, insurance business, general insurance mediation business, investment business, money service business, and trust and company service providers.
The China Securities Regulatory Commission is responsible for regulating China’s securities and futures markets.