Abu dhabi: The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) and the Hellenic Capital Market Commission (HCMC) have announced the signing of a Memorandum of Understanding (MoU), establishing a formal framework for cooperation and mutual assistance between the two authorities.
According to Emirates News Agency, the MoU was signed by Emmanuel Givanakis, CEO of the FSRA of ADGM, and Vasiliki Lazarakou, Chair of the HCMC. The agreement aims to enhance the supervision and regulation of capital markets through structured information exchange and mutual assistance, thereby strengthening market integrity and investor confidence across both jurisdictions.
The MoU provides a practical framework for cooperation on shared priorities, including combating money laundering, terrorist financing, and proliferation financing, as well as ensuring compliance with relevant sanctions. The collaboration is expected to improve the ability of both authorities to uphold high standards of market integrity and transparency.
Emmanuel Givanakis emphasized that the MoU marks a significant step in strengthening the FSRA's international regulatory cooperation. He highlighted the importance of engaging with global counterparts to reinforce commitments to market integrity and effective supervision.
Vasiliki Lazarakou remarked that the agreement enhances the HCMC's international cooperation with regulatory authorities outside the European Union, contributing to more effective supervision and bolstering market confidence.
The agreement underscores a shared focus on practical collaboration, enabling regulators to respond to cross-border activity with greater coordination, enhancing investor protection, and supporting the integrity and resilience of global capital markets.