The Guernsey Financial Services Commission (GFSC), has signed a memorandum of understanding with the Chinese Securities Regulatory Commission (CSRC).
The agreement has been signed by William Mason, director general of the Guernsey commission, and Xiao Gang, Chairman of the Chinese commission.
Mason said: “Guernsey has high regulatory standards and this has been demonstrated to, and recognised by, the [Chinese commission] during the course of our discussions which have culminated in signing the MoU. The MoU provides the basis for a framework of cooperation and exchange of information between the two sets of authorities in relation to securities and futures business.”
The memorandum sets out a statement of intent to establish a framework for mutual assistance and to facilitate the exchange of information between the authorities to ensure compliance with their respective laws and regulatory requirements.
The GFSC signed a similar agreement with the China Banking Regulatory Commission in 2011.
