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CFTC and Singapore Regulators Sign FinTech Cooperation Agreement

The CFTC and the Monetary Authority of Singapore ("MAS") signed an agreement to facilitate cross-border cooperation on FinTech innovation. This is the second cooperation agreement that the CFTC entered into with a non-U.S. authority.

The Cooperation Arrangement on Financial Technology Innovation (the "Agreement") was executed by the authorities in order to facilitate regulatory oversight of the financial markets and participants. Under the agreement, the CFTC and MAS agreed to, among other things, share information about (i) emerging trends and innovations and (ii) financial technology activities of domestic and international organizations.

At the ISDA Industry and Regulators Forum in Singapore, CFTC Chair J. Christopher Giancarlo reiterated his recent remarks in speeches in London (see previous coverage) and Tokyo (see previous coverage), outlining a new CFTC approach to cross-border regulatory matters.

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