Hong Kong Securities and Futures Commission Signs Memorandum of Understanding on Mutual Recognition of Funds with the United Arab Emirates to Expand Public Funds to the Middle East Market.

According to the Securities Times app, the Securities and Futures Commission of Hong Kong and the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE) have recently signed a memorandum of understanding to expand the cross-border market connectivity of public funds under the mutual recognition arrangement. This agreement marks the first establishment of a mutual recognition mechanism for funds between Hong Kong and the Middle East market, as well as the first cooperation agreement reached by the UAE with a jurisdiction outside of the Middle East.