The CFTC and the Monetary Authority of Singapore
("MAS") signed an agreement to facilitate cross-border
cooperation on FinTech innovation. This is the second cooperation
agreement that the CFTC entered into with a non-U.S. authority.
The Cooperation Arrangement on Financial Technology Innovation
(the "Agreement") was executed by the authorities in
order to facilitate regulatory oversight of the financial markets
and participants. Under the agreement, the CFTC and MAS agreed to,
among other things, share information about (i) emerging trends and
innovations and (ii) financial technology activities of domestic
and international organizations.
At the ISDA Industry and Regulators Forum in Singapore, CFTC
Chair J. Christopher Giancarlo reiterated his recent remarks in speeches in
London (see
previous coverage) and Tokyo (see
previous coverage), outlining a new CFTC approach to
cross-border regulatory matters.
