Bringing you live news and features since 2006 

ADGM FSRA Richard Teng

Abu Dhabi Global Market and Egyptian Securities Commission sign MoU

RELATED TOPICS​

The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) and the Egyptian Financial Supervisory Authority (EFSA) have signed a memorandum of understanding (MoU) to enhance regulatory cooperation and foster cross-border activities.

The agreement was signed by Sherif Samy, chairman of the Egyptian Financial Supervisory Authority, and Richard Teng (pictured), chief executive officer of the ADGM Financial Services Regulatory Authority.
 
The MoU establishes a framework for both authorities to provide mutual assistance, exchange regulatory information and co-operate in the fields of supervision and enforcement matters to uphold high standards in both jurisdictions. The MoU also allows both EFSA and FSRA to discuss and explore join initiatives that enable effective regulation and robust supervision of operators that engage in cross-border operations.
 
Teng says: “We are pleased to strengthen our partnership with Egyptian Financial Supervisory Authority (EFSA). This agreement fosters greater regulatory collaboration and supports continuous development and innovation of our respective financial sectors. We look forward to working closely with EFSA to maintain an efficient, responsive and well-regulated financial environment for our stakeholders and investors.”
 
Samy says: “The signing of the MoU between the EFSA and FSRA signals an important step towards strengthening our regional partnerships and cooperation tools. We are looking forward to further develop the fruitful cooperation that has taken place between our two institutions from the start. We trust that such an agreement will contribute to reinforce a sound and responsive market regulation as well as an enhanced investor protection.”

Latest News

European ETFs raised USD47.8 billion in Q1, a 15 per cent increase compared to the same period in 2023, according..
LSEG Lipper’s March report finds that globally equity ETFs (+EUR113.2 billion) enjoyed the highest estimated net inflows for the month,..
Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..

Related Articles

Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by