SEC Thailand and CSSF sign a Fintech information sharing agreement

The Securities and Exchange Commission, Thailand (SEC Thailand) and the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) have signed a Memorandum of Understanding on information sharing regarding Fintech and Innovation in their respective financial markets.

The Memorandum of Understanding provides a framework for cooperation between the two authorities with respect to promoting innovation in financial services. The CSSF and the SEC Thailand intend to exchange information about emerging trends and developments in the financial or capital markets and regulatory issues pertaining to new technologies and innovation in the provision of financial services.

On entering the agreement, Ms. Ruenvadee SUWANMONGKOL, Secretary-General of SEC Thailand, stated that: “The SEC Thailand believes that this Memorandum of Understanding will provide a remarkable basis for promoting the development of financial innovation and regulations in our respective jurisdictions. We look forward to enhancing a close cooperation with the CSSF in the future.”

Mr. Claude MARX, Director General of the CSSF, said: “This Memorandum of Understanding sets the stage for enhancing cooperation between both our authorities in the area of Fintech, Thailand and Luxembourg being both strongly innovation-oriented jurisdictions We look forward to sharing views and experiences with our colleagues
from the SEC Thailand”.

The Memorandum took effect on 7 June 2021.