SEC Secretary-General Ruenvadee Suwanmongkol, SEC Assistant Secretary-General Jomkwan Kongsakul and team met Mr. Claude Marx - Director General of Luxembourg’s financial market watchdog CSSF, Ms. Daniele Berna-Ost - CSSF Secretary-General and team. Both parties achieved an agreement to arrange a cooperative framework on fintech for exchange of information involving major developments and issues on fintech supervision and oversight. This framework was similar to those CSSF agreed with capital-markets watchdogs of Australia, Dubai and the United of Arab Emirates. This new agreement has expanded the 2012 cooperative framework between SEC and CSSF in the exchange of information on fund management companies and mutual funds.

Furthermore, CSSF has been pleased to support Thai funds’ unit offering in the Europe under the Alternative Investment Fund Managers Directive (AIFMD) where SEC has signed a memorandum of understanding (MOU) with capital-market watchdogs of 26 European countries on 2013: 23 member countries in the European Union; and three (3) countries in the European Economic Area (EEA). The signing has forged cooperation and exchange of information regarding supervision and oversight of alternative investment fund managers who have operated cross-border businesses in partner countries. Currently, two funds have been established and offered by Thai fund management companies through such mechanism in the EU member countries. SEC will organize a seminar and invite CSSF representatives to share knowledge with fund management companies and the Association of Investment Management Companies.

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