The Hong Kong Securities and Futures Commission and the Accounting and Financial Reporting Council have signed a new memorandum of understanding to expand the scope of regulatory cooperation

The Securities and Futures Commission of Hong Kong and the Accounting and Financial Reporting Council have signed a new memorandum of understanding to expand regulatory cooperation to licensed corporations, virtual asset service providers licensed by the Securities and Futures Commission, funds recognized by the Securities and Futures Commission, and registered open-end fund companies for financial and compliance reporting, as well as related audit and assurance work. A framework has been established for information sharing, case referral, mutual assistance, and coordinated inspection and investigation.