SEC Thailand Signs a MoU on Fintech Information Sharing with Luxembourg’s CSSF

The Securities and Exchange Commission, Thailand (SEC Thailand) recently signed a Memorandum of Understanding(MoU) on information sharing regarding Fintech and Innovation with the Luxembourg Commission de Surveillance du Secteur Financier (CSSF), effective from 7 June 2021.

According to the official press release, the MoU provides a framework for cooperation between the two authorities with respect to promoting innovation in financial services.

The two institutions intend to exchange information about emerging trends and developments in the financial or capital markets and regulatory issues pertaining to new technologies and innovation in the provision of financial services.

“The SEC Thailand believes that this Memorandum of Understanding will provide a remarkable basis for promoting the development of financial innovation and regulations in our respective jurisdictions. We look forward to enhancing a close cooperation with the CSSF in the future,” stated Ms. Ruenvadee SUWANMONGKOL, Secretary-General of SEC Thailand.

“This Memorandum of Understanding sets the stage for enhancing cooperation between both our authorities in the area of Fintech, Thailand and Luxembourg being both strongly innovation-oriented jurisdictions We look forward to sharing views and experiences with our colleagues from the SEC Thailand,” added Mr. Claude MARX, Director General of the CSSF.