DFSA, Securities and Exchange Commission of Thailand strengthens fintech and innovation cooperation – News
The agreement provides a framework for further cooperation between the two authorities on regulation, policy and trends in financial services and markets
DFSA and SEC of Thailand on new technologies will further promote the development of the United Arab Emirates and Thailand.
The Dubai Financial Services Authority (DFSA) has signed a memorandum of understanding (MoU) with The Securities and Exchange Commission of Thailand (SEC), to enable open dialogue on technology-enabled financial innovation in financial services, including fintech and regulatory technology (RegTech).
The MoU was signed by Ian Johnston, CEO of the DFSA, and Ruevadee Suwanmonkol, Secretary General of the SEC on 18 October 2022.
The agreement provides a framework for further cooperation between the two authorities on regulation, policy and trends within financial services and markets.
“As the financial sector evolves at an unprecedented pace, it is key for regulatory bodies to share knowledge and stay abreast of innovation in their markets. This strategic partnership provides a strong basis for strengthening the cooperation between our two countries. We are confident that bringing together the expertise of the DFSA and the SEC of Thailand on emerging technologies will further advance the development of our respective economies, said Ian Johnston.
Ruenvadee Suwanmongkol said: “As innovative developments in the financial sector grow exponentially, our collaborative partnership is an important initiative that enables both governments to keep pace with innovations and meet new complex challenges. This MoU also underlines SEC Thailand’s focus on strengthening relationships with leading regulatory authorities, including the DFSA. We strongly believe that a close collaboration between the DFSA and SEC Thailand is a stepping stone towards stronger and continuous development of financial innovations and regulations in our respective jurisdictions.”
