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https://www.nationthailand.com/pr-news/more/pr-news/40021189

DFSA, SEC sign MOU on fintech and innovation cooperation

WEDNESDAY, OCTOBER 19, 2022

Bangkok, October 19 – The Dubai Financial Services Authority (DFSA) and the Securities and Exchange Commission, Thailand (SEC) have signed a Memorandum of Understanding (MoU) to promote cooperation and open dialogue about technology-enabled financial innovations in the financial services sector, including FinTech and Regulatory Technology (RegTech).

The MoU was signed by Mr Ian Johnston, Chief Executive of DFSA, and Ms Ruenvadee Suwanmongkol, Secretary-General of SEC Thailand on October 18. 

The agreement provides a framework for ease of cooperation between the two authorities on matters pertaining to regulations and policies in financial services in both markets as well as emerging trends. 

Mr Ian Johnston, Chief Executive of the DFSA, said: “As the financial services sector evolves at an unprecedented pace, it is key for regulatory bodies to maintain a constant stream of knowledge exchange to stay abreast of innovation in the sector within their markets. This strategic partnership provides a strong foundation to strengthen the bilateral cooperation between our two countries. We are confident that bringing together the expertise of DFSA and SEC Thailand on emerging technologies impacting the global financial ecosystem will further advance the development of our respective economies.”

Ms Ruenvadee Suwanmongkol, Secretary-General of SEC Thailand, said: “As the innovative development in the financial services sector is growing exponentially, our collaborative partnership is an important initiative that enables both authorities to keep pace with innovations and addressemerging complex challenges. This MoU also underlines SEC Thailand’s focus on strengthening relationships with leading regulatory authorities, including DFSA. We strongly believe that a close collaboration between DFSA and SEC Thailand is a steppingstone towards stronger and continuing development of financial innovations and regulations in our respective jurisdictions.”