Dubai Financial Services Authority inks accord with French regulator AMF

Dubai: The Dubai Financial Services Authority (DFSA) on Friday signed a Memorandum of Understanding (MoU) with the Autorité des Marchés Financiers of France (AMF), the French securities regulator.

The signing took place between Paul Koster, chief executive officer of the DFSA, and M. Jean-Pierre Jouyet, AMF chairman.

The AMF is France's independent public body responsible for safeguarding investments in financial instruments and in all other savings and investment vehicles. It also ensures that investors receive material information and maintains orderly financial markets.

The AMF also lends its support to financial market regulation at European and International levels.

"The Autorité des Marchés Financiers has been a valued member of the International Organisation of Securities Commissions (IOSCO) and an active participant in the work of the Committee of European Securities Regulators (CESR), adopting and harmonising international standards in Europe and continuing to establish world-class standards in the regulation of capital markets," Koster said.

Significant initiative

"As such, this MoU is a significant initiative, recognising the importance of these arrangements for co-operation and information sharing between the two regulators."

Both the AMF and the DFSA are signatories to the IOSCO multi-lateral MoU, having met the highest standards of co-operation and assistance among IOSCO members.