ASIC Signs MoU with Croatian Financial Services Supervisory Agency

The Australian Securities and Investments Commission (ASIC) announced recently that it has signed a new Memorandum of Understanding (MoU) with the Croatian Financial Services Supervisory Agency (CFSSA).

The MoU is with regard to mutual assistance in the supervision and oversight of managers of alternative investment funds that operate on a cross-border basis, and the entities they delegate functions to or that hold securities on their behalf.

According to the official press release, through the MoU, ASIC and the CFSSA express their willingness to cooperate with each other in the interest of fulfilling their respective regulatory mandates, particularly in the areas of investor protection, fostering market and financial integrity, and maintaining confidence and systemic stability.

This MoU complements the 29 other supervisory cooperation arrangements ASIC entered into with EU securities regulators in 2013, agreeing to help each other supervise alternative investment fund managers operating across borders.