The Jersey Financial Services Commission has signed a Memorandum of Understanding with the Liechtenstein Financial Market Authority (FMA), which puts in place a mechanism to enable the regulatory authorities to co-operate on supervisory matters, exchange information and oversee regulated firms.
John Harris, Director General of the JFSC, Dr Urs Phillipp Roth-Cuony, Chairman of the Board of Directors, and Mario Gassner, Chief Executive Officer of the FMA signed the MoU at a ceremony at the FMA’s offices in Liechtenstein.
John Harris, Director General of the JFSC said: "With the similarity and extent of issues and challenges in financial services for both Jersey and Liechtenstein expected to increase in the coming years, it is important that the JFSC and the FMA are in a position to co-operate closely.
"This Memorandum provides a formal framework for the exchange of regulatory information and mutual assistance. We understand each other and already work effectively together, so this agreement reinforces an already excellent relationship."
Pictured (l-r): Dr Urs Phillipp Roth-Cuony, Chairman of the Board of Directors; John Harris, Director General of the JFSC; and Mario Gassner, Chief Executive Officer of the FMA