Strategic Goal 5: Promoting regulatory cooperation

In August 2012 the QCB, QFMA, and QFCRA signed a tri-partite Memorandum of Understanding (MOU) that supports enhanced cooperation and information exchange. The inauguration of the FSRCC framework noted earlier will further strengthen cooperation in strategy development.

Furthermore, the establishment of a Supervisory College comprising the senior executives of the QCB, QFMA and QFCRA will efficiently enhance cooperation and harmonisation. The College of Supervisors meets on a regular basis to address areas of common regulatory concern and to date has been focused on sharing information in respect of: (i) their respective approaches to supervision, (ii) aggregate data on financial services activities under their respective jurisdictions, and (iii) financial firms that operate across the three regulatory jurisdictions.