Abu Dhabi, Cypriot Regulators To Cooperate On Stock Market Oversight
by Lorys Charalambous, Lowtax.net, Cyprus
19 July, 2017
The regulator of Abu Dhabi Global Market (ADGM), the low-tax financial center, and the Cyprus Securities and Exchange Commission have agreed to cooperate on tackling securities market abuse.
A new Memorandum of Understanding is said to facilitate the exchange of relevant and appropriate information and technical expertise between the two supervisory authorities.
Both ADGM and the Commission have said they will work closely together to uphold the integrity of their respective securities markets, safeguarding the interests of investors and supporting growth.
ADGM is an international financial center established in 2013. It offers a range of attractive benefits to firms, including exemption from taxes guaranteed for 50 years, and relaxed rules on the repatriation of profits. ADGM permits 100 percent foreign ownership.
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