ESMA Approves Cooperation Agreements With Guernsey

The central supervisory body for the financial markets of the European Union (EU), the European Securities and Markets Authority (ESMA), has approved bilateral agreements to be signed with the Guernsey financial services regulator, the Guernsey Financial Services Commission (GFSC).

ESMA has announced that it has approved Memoranda of Understanding (MoUs) between securities regulators from the 27 EU Member States, Croatia and the wider European Economic Area (Iceland, Liechtenstein and Norway) - on behalf of which it was negotiating - and 34 third-country regulators, including the GFSC.

When the agreements are signed, they will create a formal framework of cooperation on matters of mutual interest between the GFSC and the equivalent bodies in the EU Member States, Croatia, Iceland, Liechtenstein and Norway.