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ADGM enters partnership with Toronto Finance InternationalADGM FSRA 28/10/2019
The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) and Toronto Finance International (TFI), a public-private partnership between Canada’s largest financial services institutions and the government, signed a Memorandum of Understanding (MoU) on 23 October to facilitate the increased collaboration on joint initiatives and efforts to bolster the growth of the financial markets in Abu Dhabi and Toronto. The MoU was signed by Jennifer Reynolds, President and CEO of TFI and Richard Teng, CEO of the FSRA of ADGM, at the FinTech Abu Dhabi Festival in Abu Dhabi.
Mr. Richard Teng, CEO of the Financial Services Regulatory Authority of ADGM said: "This MoU marks an important development in our on-going engagement and collaboration with Toronto Finance International. Together, the two financial centres are able to explore efforts and facilitate cross-border opportunities in the areas of FinTech, asset management and sustainable finance to address the evolving needs of our stakeholders and markets.”
Jennifer Reynolds, President and CEO of Toronto Finance International said: "We are very pleased to establish an MOU with the Financial Services Regulatory Authority of ADGM to further strengthen opportunities for collaboration. Our financial services sectors share a common focus on fostering innovation, growing sustainable finance capacity, and driving investment opportunities between our two global financial centres.”
Today’s signing establishes a strategic platform for both Financial Centres to share expertise and exchange industry insights such as financial services legislation, regulatory frameworks, and best practices to better serve the needs of stakeholders in each jurisdiction. ADGM and TFI will also explore and participate in common projects and activities that develop human capital capabilities and foster growth in both financial markets.
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