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Hong Kong SFC and AFRA Sign New MoU, Extending Regulatory Cooperation to Licensed Firms and Fund Financial Reporting
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Hong Kong's Securities and Futures Commission (SFC) and the Accounting and Financial Reporting Council (AFRC) signed a new Memorandum of Understanding on September 28, expanding their regulatory cooperation beyond listed entity financial reporting and related audits. The new MOU covers financial and compliance reporting by licensed corporations, SFC-licensed virtual asset service providers, SFC-authorized funds, and registered open-ended fund companies, as well as related audits and assurance work by their auditors. It also establishes a comprehensive framework for information sharing, case referrals, mutual assistance, and coordinated inspections and investigations on regulatory matters of common concern.
Source report
28 September 2024 – The Securities and Futures Commission (SFC) and the Accounting and Financial Reporting Authority (AFRA) of Hong Kong today signed a new Memorandum of Understanding (MoU), extending their regulatory cooperation beyond the oversight of financial reporting and related audits of listed entities.
The new MoU covers the financial and compliance reporting of:
- Licensed corporations
- Virtual asset service providers licensed by the SFC
- SFC-authorised funds
- Registered open-ended fund companies
It also encompasses the related audit and assurance work conducted by their auditors.
In addition, the MoU establishes a comprehensive framework for:
- Information sharing
- Case referrals
- Mutual assistance
- Coordinated inspections and investigations into regulatory matters of common concern to both authorities
Source
财联社Eastern
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Hong Kong SFC and AFRA Expand Regulatory Oversight to Licensed Firms and Virtual Asset Providers