Australia, Hong Kong to work closer
Financial Services ministers from Australia and Hong Kong today signed a memorandum of understanding between Hong Kong’s Exchanges and Clearing and the Australian Stock Exchange (ASX).
The memorandum follows a move by both nations to increase the links between its respective financial services industries.
In a joint statement by Australia's Financial Services Minister, Joe Hockey and the Hong Kong Secretary for Financial Services, Stephen Ip, the groups will look into greater co-operation in many issues relating to financial services.
Issues will include cross-border fundraising, intermediary licensing, market and clearing licensing, and enhancing the strong relationship between SFC and the Australian Securities and Investment Commission (ASIC) in areas of training, enforcement and surveillance.
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