At a ceremony in Dubai on 5 May 2014, the Jersey Financial Services Commission (the “Commission”) and the Emirates Securities and Commodities Authority (the “ESCA”) signed a Memorandum of Understanding (“MoU”) that establishes a framework for mutual assistance and the exchange of regulatory information.

The MoU was signed by the Director General of the Commission, Mr John Harris, and the Chief Executive Officer of ESCA, His Excellency Abdullah Salim Al-Turifi.

John Harris said,

• “I am delighted to sign this Memorandum of Understanding with the Emirates Securities and Commodities Authority.
• With the provision of cross-border financial services between Jersey and the United Arab Emirates expected to increase in the coming years, it is important that the JFSC and the ESCA are in a position to co-operate closely.
• This Memorandum will assist in that regard as it establishes a formal framework for the exchange of regulatory information and mutual assistance for the purpose of ensuring compliance by financial service businesses with each jurisdiction’s regulatory requirements.”

The Commission has MoUs (either on a bilateral or multilateral basis) with regulators in over 90 countries.

PRESS RELEASE  6 MAY 2014

http://www.jerseyfsc.org/the_commission/general_information/press_releases/release316.asp