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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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On September 28, the Hong Kong Securities and Futures Commission (SFC) and the Accounting and Financial Reporting Authority (AFRA) signed a new Memorandum of Understanding (MoU) that expands their regulatory cooperation beyond the supervision of listed entities' financial reporting and related audit work. The new MoU covers the financial and compliance reporting of 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. Additionally, the MoU establishes a comprehensive framework for information sharing, case referrals, mutual assistance, and coordinated inspections and investigations into regulatory matters of common concern.
Source report
September 28 – The Securities and Futures Commission (SFC) and the Accounting and Financial Reporting Council (AFRA) have today signed a new Memorandum of Understanding (MoU), expanding their regulatory cooperation beyond the supervision of listed entities' financial reporting and related audit work.
The new MoU covers financial and compliance reporting by:
- Licensed corporations
- Virtual asset service providers licensed by the SFC
- SFC-authorised funds
- Registered open-ended fund companies
It also encompasses 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 concerning regulatory matters of common interest to both parties
Source
金十数据Neutral / independent
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Hong Kong SFC and AFRA Expand Regulatory Oversight to Licensed Firms and Virtual Asset Providers