On 15 May 2025, the Securities and Futures Commission of Hong Kong (HK SFC) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) executed a Memorandum of Understanding (MoU) to formalise regulatory cooperation concerning the supervision of cross-border investment managers and collective investment scheme activity. The agreement was signed on the sidelines of the International Organization of Securities Commissions (IOSCO) Annual General Meeting, held in Doha, Qatar, and was attended by the HK SFC’s Chief Executive Officer, Ms. Julia Leung, Executive Director of Investment Products, Ms. Christina Choi, and FSRA’s Chief Executive Officer, Mr. Emmanuel Givanakis.
The MoU establishes a bilateral regulatory framework for consultation, cooperation, and information exchange in connection with the oversight of licensed entities conducting fund management, investment management, and advisory services across both jurisdictions. By promoting closer coordination and enhanced transparency between the two authorities, the arrangement aims to bolster compliance supervision and deepen connectivity between Hong Kong and Middle Eastern markets.
This MoU is part of a broader international push to establish secure and resilient financial infrastructure amid global economic shifts, with both the United Arab Emirates (UAE) and Hong Kong Special Administrative Region (HKSAR) actively positioning themselves as global financial hubs. The UAE, through ADGM, continues to leverage its strategic location bridging Europe, Africa, and Asia, while Hong Kong reinforces its role as an access point for capital flows between Asia and global markets. The HK SFC and UAE FSRA cooperation indicates a maturing inter-regional partnership to meet the regulatory demands of increasingly decentralised and cross-border financial activities.
Mr. Emmanuel Givanakis, CEO of ADGM’s FSRA stated: “This MoU marks a significant step in strengthening our regulatory cooperation with the SFC. By enhancing information exchange between both authorities, we are not only improving oversight of cross-border fund management, investment, and advisory activities, but also ensuring that both jurisdictions benefit from greater transparency and more effective regulatory practices. This partnership fosters mutual trust and strengthens the stability and integrity of our respective financial markets, promoting investor protection and reinforcing the global financial ecosystem.”
Ms. Julia Leung, CEO of the HK SFC stated: “This MoU between the SFC and ADGM’s FSRA marks an important milestone in forging closer regional market connectivity between Hong Kong and the Middle East and deepening the regulatory cooperation between the SFC and the FSRA, specifically, the agreement would facilitate cross-market industry collaborations between ADGM and Hong Kong, especially on investment delegation and fund offerings through master-feeder structure.”
The MoU also supports the HK SFC’s broader international strategy to enhance overseas connectivity in line with the ASPIRe roadmap issued in February 2025. It will enable more seamless cross-border operational collaboration in areas including licensing, regulatory standards alignment, and fund passporting practices. As both jurisdictions serve as financial gateways for global capital, the SFC-FSRA cooperation stands to improve the regulatory experience for licensed fund managers and enhance investor protection standards.
(Source: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=25PR71)
