(Tiper Stock Exchange) – Consob, the Bank of Italy and FINMA, the Swiss Financial Market Supervisory Authority, year signed a cooperation agreement (Memorandum of Understanding) to facilitate the performance of their respective functions on supervised entities.
This MoU, albeit legally non-binding – explains Palazzo Koch – defines the reference framework for effective cooperation and the information exchange between the three authorities for supervisory purposes.
“Thanks to this agreement, the signatory authorities can now carry out their cross-border supervision even more effectively. This increases legal certainty for supervised institutions operating in Italy and Switzerland,” he comments. Urban AngehrnDirector of FINMA.
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