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The Securities and Futures Commission (SFC) and the Independent Commission Against Corruption (ICAC) today entered into a Memorandum of Understanding (MoU) to formalise and strengthen cooperation in combating financial crime.
The enhanced collaboration between the SFC and the ICAC under the MoU, which covers referral of cases, joint investigations, exchange and use of information, mutual provision of investigative assistance, and capacity building, will augment the overall effectiveness of both organisations in combating wrongdoings and illegal activities affecting the integrity and reputation of Hong Kong’s securities and futures markets.
The MoU was signed by the SFC’s Executive Director of Enforcement, Mr Thomas Atkinson and the ICAC’s Deputy Commissioner and Head of Operations, Mr Ricky Yau Shu-chun.
"The arrangement under the MoU will enable the SFC to perform its statutory duties with greater efficiency and effectiveness in combating financial crime and maintaining the integrity of Hong Kong’s securities and futures market. We look forward to closer collaboration with the ICAC." Mr Atkinson said.
"The MoU sets out the framework for cooperation and collaboration between the two agencies in various aspects, showing our common determination in maintaining a level-playing field for doing business in Hong Kong." Mr Yau said.
As envisaged in the MoU, a three-day joint investigation training workshop was launched today, providing investigators of the SFC and the ICAC invaluable opportunities to share their respective expertise and experience in tackling serious financial crime.
