Abu Dhabi: The Emirates Securities and Commodities Authority (SCA) has signed a memorandum of understanding (MoU) with the Irish Financial Services Regulatory Authority.
The signing took place at the 35th annual conference of the International Organisation of Securities Commissions (IOSCO) being held in Montreal, Canada.
Abdullah Al Turaifi, SCA chief executive officer, and Matthew Elderfield, head of the Irish regulator, inked the deal at a ceremony attended by IOSCO members attending the conference.
The arrangement provides a framework for boosting joint cooperation and the sharing of information.
This will enable the two sides to discharge their duties effectively in ensuring strict adherence and implementation of securities and futures-related laws and regulations.
In order to attain a framework for sound regulatory work in the securities industry, any of the two sides, upon request, shall provide training and technical assistance to the other.
Al Turaifi said the deal seeks to provide better protection for investors and ensuring more efficient securities markets.
"This is to be done in a way that would lead increased inflow of investment between the two countries through the promotion of joint listing of securities on the markets of the two countries," Al Turaifi said.
