Guernsey, Luxembourg Regulators To Cooperate

The Guernsey Financial Services Commission has signed a Memorandum of Understanding (MoU) with Luxembourg's financial sector regulator, the Commission de Surveillance du Secteur Financier.

The MoU provides a formal basis for cooperation and information exchange between the two territories, adding to Guernsey's network of such supervisory and regulatory cooperation agreements.

"The MoU has been signed in the spirit of mutual cooperation and information exchange seen as crucial by the Group of Twenty (G-20) countries and international standard setters for financial services supervisors," the GFSC said.