International Cooperation

Overview

The FSCO provides a duty upon the Commission to co-operate with both domestic and foreign authorities which has function in relation to the prevention and detection of financial crimes. Therefore, it is obligated to co-operate and interact with both domestic and foreign regulatory, standard setting and other relevant bodies for the establishment of an efficient Regulatory and Supervisory regime in the TCI in fulfilment of the FSCO.

TCIFSC’s cooperation involvement includes the exchange and sharing of information and the provision of assistance to foreign financial supervisors. This is achieved by inter alia the negotiation of Memoranda of Understanding, the assessment of requests from supervisory or regulatory authorities with which no formal agreement has been established and by the participation in international bodies and initiatives.