The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with The Securities and Exchange Commission of Thailand (SEC), to enable open dialogue about technology enabled financial innovation in financial services, including FinTech and Regulatory Technology (RegTech).

The MoU was by Ian Johnston, Chief Executive of the DFSA, and Ruevadee Suwanmonkol, Secretary-General of the SEC on 18 October 2022.

The agreement provides a framework for further co-operation between the two authorities on regulation, policy and trends in financial services and markets.

Ian Johnston, Chief Executive of the DFSA said: “As the financial services sector evolves at an unprecedented pace, it is key for regulatory bodies to share knowledge and to stay abreast of innovation within their markets. This strategic partnership provides a strong foundation to strengthen the cooperation between our two countries. We are confident that bringing together the expertise of the DFSA and the SEC of Thailand on emerging technologies will further advance the development of our respective economies.”

Ms Ruenvadee Suwanmongkol, Secretary-General of SEC Thailand, said: “As the innovative development in the financial services sector is growing exponentially, our collaborative partnership is an important initiative that enables both authorities to keep pace with innovations and address emerging complex challenges. This MoU also underlines SEC Thailand’s focus on strengthening relationships with leading regulatory authorities, including DFSA. We strongly believe that a close collaboration between DFSA and SEC Thailand is a stepping stone towards stronger and continuing development of financial innovations and regulations in our respective jurisdictions.”