Collaboration with Luxembourg on mutual fund supervision
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The Securities and Exchange Commission of Thailand (SEC) has signed a Memorandum of Understanding (MoU) with the Commission de Surveillance du Secteur Financier of Luxembourg ("CSSF") to promote mutual collaboration in exchanging information on the superv
The MoU aims to enhance collaboration in exchanging information on regulation and supervision of mutual funds and mutual fund-related service providers. In addition, the MoU marks the beginning of bilateral cooperation that will create business opportunities for investment management companies and capital markets of both countries in the future.
“I am delighted that the regulatory agencies of Thailand and Luxembourg signed a Memorandum of Understanding,” said Vorapol Socatiyanurak, the SEC's Secretary-General. “Recognising that Luxembourg is truly the European center for mutual fund industry, I see that this MoU would lead to deeper and broader cooperation between capital market regulators as well as private sectors of both Thailand and Luxembourg.”
Jean Guill, Director-General of the CSSF, said that the collaboration will confirm and formalise the good contacts between the two authorities.
"Thailand and Luxembourg have a lot of things in common and we are convinced that this MoU will be beneficial by prompting a better mutual understanding and by contributing to the further development of our respective financial centres. We are looking forward to the continuing good relationship and cooperation between the SEC Thailand and the CSSF," he said.
The SEC and CSSF are both members of the International Organisation of Securities Commissions (IOSCO).
