Conclusion of a cooperation agreement between the FSMA and the Emirates Securities and Commodities Authority

Press release

The Financial Services and Markets Authority (FSMA) has concluded a Memorandum of Understanding (MoU) with its counterpart from the United Arab Emirates.

On 16 January 2012 Mr Abdulla S. Al Turifi, CEO of the Emirates Securities and Commodities Authority, and Mr Jean-Paul Servais, Chairman of the FSMA, have concluded an agreement about the cooperation and the exchange of information between both authorities. The agreement lays the foundation for cooperation between both institutions in the exercise of their supervisory tasks.

Jean-Paul Servais declared in that respect: "I am extremely pleased about the conclusion of this cooperation agreement with our colleagues from the United Arab Emirates. It is the first bilateral agreement that the FSMA concludes with another supervisor also charged with the supervision of financial markets and products within the framework of a 'Twin Peaks'-supervisory structure."