Richard Teng, Abu Dhabi Global Market
The Co-operation Framework will enable FSA and FSRA to refer innovative FinTech businesses to each other for advice and support via FSA's FinTech Support Desk and FSRA's Regulatory Laboratory (RegLab). It also provides a framework for information sharing between the two regulators. This will enable FSA and FSRA to keep abreast of regulatory and relevant economic or commercial developments in each other's jurisdictions, and help to inform domestic regulatory approaches in the context of a rapidly changing global financial environment.
Richard Teng, CEO of FSRA, ADGM said, 'This is the first FinTech collaboration and bridge with our Japanese financial services regulatory counterpart and our fifth with international regulators. This cooperation further deepens the mutually beneficial partnership between Abu Dhabi and Japan. I look forward to working closely and meaningfully with the FSA to advance the financial development of our markets.'