The Guernsey Financial Services Commission (FSC) has announced that it has entered into a cooperation agreement with Germany’s banking, insurance and securities regulator, BaFin.
The Guernsey FSC said on September 1 that the Memorandum of Understanding (MoU) had been signed “in the spirit of mutual cooperation and information exchange… seen as crucial by the G20 countries and international standard setters for financial services supervisors”.
Nik van Leuven, Director General of the Commission, added: “I am delighted to sign a Memorandum of Understanding with BaFin. The Commission and BaFin have developed a very close working relationship. The MoU is an important further step in deepening that relationship and I look forward to continuing our constructive dialogue and work in the months and years to come.”
.Tags: law | offshore | agreements | banking | financial services | insurance | offshore banking | memorandum of understanding (MOU) | Germany | Guernsey | G20 | services | Germany | Guernsey
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