The Monetary Authority of Singapore (MAS) signed a cooperation agreements with the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF) of France to enhance FinTech cooperation between both countries. Singapore hard on track to become the hub of SEA with partnerships...now the big question will be what the material impact of these partnerships will be, but time will tell
The cooperation agreement provides a framework under which ACPR, AMF, and MAS will share information about emerging FinTech trends, potential joint innovation projects, and regulatory issues pertaining to innovative financial services. The framework will also allow authorised FinTech companies in Singapore and France to facilitate their understanding of regulatory requirements in each jurisdiction, so as to foster trades and flows across the two markets. Mr Ravi Menon, Managing Director, MAS, said: “This cooperation agreement underscores the commitment of ACPR, AMF and MAS to promoting innovation in financial services. We look forward to closer interactions between our respective FinTech ecosystems, more opportunities for our businesses, and greater convenience for consumers in both our countries”. Mr Francois Villeroy de Galhau, Governor of the Banque de France, Chair of the ACPR, said:
http://fintechnews.sg/9293/fintech/singapore-france-fintech-agreement/
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