HK-RI deal on securities

HK-RI deal on securities

HONG KONG (AFP): Hong Kong's stock watchdog body, the Securities and Futures Commission (SFC), signed yesterday a memorandum of understanding with its Indonesian counterpart to promote the integrity of both securities markets.

The SFC said in a statement that "the memorandum of understanding will allow Hong Kong and Indonesia to establish a united front to protect investors and more effectively regulate the market."

It was signed by SFC chairman Robert Nottle and Bacelius Ruru, the chairman of the Capital Market Supervisory Board of Indonesia.

The memorandum also provides a framework for cooperation, including the exchange of information, and technical and other assistance.

However, the information provided under the memorandum of understanding will be used by the authorities only for the purpose of performing regulatory functions and does not modify or supersede any laws or regulatory requirements in Hong Kong or Indonesia.