Tuesday 12 September 2006 06 – LAWFUEL – Law News Network – The Chairman of the Australian Securities and Investments Commission (ASIC), Mr Jeffrey Lucy, today welcomed the Memorandum of Understanding (MOU) entered into between ASIC and the Dubai Financial Services Authority (DFSA). The MOU, signed by Mr Lucy and Mr David Knott, Chief Executive of the DFSA, establishes a framework for mutual assistance and the exchange of information between ASIC and the DFSA.
‘The MOU will enhance the supervision of cross-border transactions and create an environment conducive to the prevention of fraud’, Mr Lucy said. ‘I am pleased that ASIC and the DFSA are working together to strengthen the international network of securities regulators’, he said.
The DFSA is an independent, integrated regulatory authority responsible for the regulation of all financial and ancillary services conducted in or from the Dubai International Financial Centre, a new financial centre established to position Dubai as a recognised hub for institutional finance and the regional gateway for capital and investment to the Middle East. For further information contact: Angela Friend ASIC Media Unit Telephone: 03 9280 3338 Mobile: 0412 058 800 Page