Recent reports suggest that Microsoft may have shuttered one of Bethesda's studios as part of the layoffs announced earlier this year
The agreement was signed by Richard Teng, CEO of FSRA and Advocate Dube Tshidi, executive officer of the FSB.
Teng said: "We are pleased to establish this new partnership with FSB South Africa. The MoU recognises our shared ambition to foster greater investor protection and support the continuous development, innovation and supervision in financial products and activities in both our financial sectors. One of the key objectives of this partnership is to develop relevant cooperative arrangements and cross-border collaboration that enable the growth and meet the business needs of companies and businesses in our jurisdictions. We look forward to working closely with FSB to maintain an efficient, responsive and well-regulated financial environment for our stakeholders and investors."
Advocate Tshidi said: "We are looking forward to working with the ADGM. This MoU presents both institutions with an opportunity to strengthen cross-border ties, thus promoting integrity, efficiency and financial soundness through effective regulation of their respective jurisdictions. The FSB has developed and maintained a strong, effective presence in the regulatory field in South Africa and internationally while working closely with its counterparts in other parts of the world to establish solid regulatory frameworks. Signing this MoU not only attests to the aforementioned but is also an indication of the FSB's commitment to ensuring a sound financial investment environment."
The MoU sets in place a framework for mutual assistance and cooperation between the authorities to enforce or secure compliance with laws and regulations of their respective jurisdictions. This underpins their commitment to uphold the highest international regulatory standards and practice in both jurisdictions. - Wam
Recent reports suggest that Microsoft may have shuttered one of Bethesda's studios as part of the layoffs announced earlier this year
Jacopo Stecchini and Diletta Ricciardi Durand de la Penne showcase Emirati culture through a series of ventures in collaboration with the Dubai Culture and Arts Authority
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Shashi Tharoor's World of Words is a weekly column dissecting English language