The Hong Kong Securities and Futures Commission and the Accounting and Financial Reporting Council signed a new Memorandum of Understanding today to extend their regulatory cooperation to areas other than monitoring financial reporting and related audit work of listed entities. The new Memorandum of Understanding covers the financial and compliance reporting of licensed corporations, virtual asset service providers licensed by the SFC, funds accredited by the SFC and registered open-ended fund companies, as well as related audit and assurance work carried out by their auditors. Furthermore, the Memorandum of Understanding also establishes a comprehensive framework for information sharing, case referrals, mutual assistance, and coordination of inspections and investigations relating to regulatory matters of mutual concern to both parties.

The Hong Kong Securities and Futures Commission and the Accounting and Financial Reporting Council signed a new Memorandum of Understanding today to extend their regulatory cooperation to areas other than monitoring financial reporting and related audit work of listed entities. The new Memorandum of Understanding covers the financial and compliance reporting of licensed corporations, virtual asset service providers licensed by the SFC, funds accredited by the SFC and registered open-ended fund companies, as well as related audit and assurance work carried out by their auditors. Furthermore, the Memorandum of Understanding also establishes a comprehensive framework for information sharing, case referrals, mutual assistance, and coordination of inspections and investigations relating to regulatory matters of mutual concern to both parties.