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The Alternative Investment Fund International co-operation requests International Membership: Global

Managers Directive (AIFMD) Financial Innovation Network
The QFCRA has the power to assist overseas regulatory

The QFCRA maintains 24 Memoranda of Understanding authorities with their supervisory and enforcement The QFCRA joined the Global Financial Innovation

(MoU) with securities regulators in the European Union. activities. Additionally, as part of its supervisory and Network (GFIN) in August 2021. The GFIN was formally

The MoUs were co-ordinated by the European Securities enforcement activities, the QFCRA makes information launched in January 2019, by an international group

and Markets Authority (ESMA) and reflect its review of requests to overseas regulatory authorities. of financial regulators and related organisations,
the QFC’s legislative and supervisory framework and building on the Financial Conduct Authority’s (FCA)

its approval of the QFCRA as an MoU counterparty. proposal to create a global sandbox in 2018.
2021 requests

The signatories of the MoUs with the QFCRA include the The GFIN seeks to provide a more efficient way for
Outgoing requests – 79
following securities regulators: innovative firms to interact with regulators, helping
Incoming requests – 7
them navigate between countries as they look to scale
Austria Liechtenstein
new ideas. This includes the ability to conduct cross-
Bulgaria Lithuania
border testing (a solution for firms wishing to test
Cyprus Luxembourg
innovative products, services or business models across
Croatia Malta
more than one jurisdiction). Furthermore, GFIN aims
Denmark Netherlands
to create a new framework for co-operation between
Estonia Norway
financial service regulators on innovation related topics
Finland Poland
and sharing different experiences and approaches.
France Portugal

Greece Romania

Iceland Slovakia
Ireland Sweden

Latvia United Kingdom*

*An updated AIFMD MoU was signed with the United

Kingdom and became effective on the UK’s departure

from the European Union.