The Capital Markets Authority (CMA) and Financial Services Commission Mauritius have signed a deal to strengthen technical cooperation between the two capital market regulators.
CMA Chief Executive, Wyckliffe Shamiah says the initiative reinforces effective cross-border cooperation and information sharing with its African counterparts.
The Cooperation Agreement between FSCM and CMA is expected to establish a mechanism for strengthening technical exchanges concerning financial regulation between both regulatory authorities.
According to Shamiah the exchange will increase knowledge and understanding of the laws and regulations in various fields such as financial instruments, market intermediaries, asset management, Fintech and other components of the financial innovation ecosystem.
“The partnership with FSC is underpinned by our strategic objective of enhancing strategic influence by partnering with peer regulators in Africa and beyond for mutual benefit. We see this as an opportunity to build our internal capacity through exposure for our technical staff to best practises that can support the capital markets in facilitating economic transformation as espoused in the Capital Market Master Plan (2014-2023) which is aligned to Kenya’s Vision 2030 Economic Blueprint,” said Shamiah.
Commenting on the milestone, Financial Services Commission Mauritius CEO Dhanesswurnath Thakoor, stated that the initiative reinforces their commitment to ensure effective cross-border cooperation and information sharing with its African counterparts.
“The FSC will collaborate further with the CMA to reinforce compliance thereby upholding the resilience and sound repute of the financial services sector,” said Thakoor.
The Financial Services Commission will also collaborate further with the Capital Markets Authority to reinforce compliance thereby upholding the resilience and sound repute of the financial services sector.