The Registration Authority of the Abu Dhabi Global Market, ADGM, and the Australian Securities and Investments Commission, ASIC, has announced their partnership to streamline company registration and facilitate the exchange of information, expertise and secondment opportunities in both jurisdictions
Abu Dhabi, (Pakistan Point News - 27th Feb, 2019) The Registration Authority of the Abu Dhabi Global Market, ADGM, and the Australian Securities and Investments Commission, ASIC, has announced their partnership to streamline company registration and facilitate the exchange of information, expertise and secondment opportunities in both jurisdictions.
This came as part of an agreement signed by Dhaher bin Dhaher Almheiri, CEO of the Registration Authority of ADGM, and James Shipton, Chair of the Australian Securities and Investment Commission.
As per the agreement, the ADGM Registration Authority and ASIC will collaborate towards enhancing performance through the sharing of best practices and views on industry trends. Both entities will also work on aligning the legislative, procedural and information technology frameworks in their respective jurisdictions.
Commenting on the statement of co-operation, Almheiri said, "We continuously aim to bolster our cross-border activity through strategic partnerships with leading international entities to position ADGM as a leading international financial centre. Such partnerships help us to offer our companies and entrepreneurs a robust, innovative and global ecosystem.
To this end, we are very pleased to announce our latest agreement with ASIC which helps to create a mutual understanding of the legislative, procedural and information technology frameworks of both entities. We look forward to working closely with ASIC to improve operational efficiency and enhance our offerings as an international business hub."
For his part, Shipton noted, "ASIC constantly works to improve efficiency and strengthen cooperation with our international counterparts. We are delighted to announce this agreement and look forward to our close cooperation with the Abu Dhabi Global Market Registration Authority in the future.
National regulators need to work together to respond to companies operating globally and to money flowing between countries. When we provide mutual assistance to each other and exchange views and information, this helps ASIC to achieve its vision for a fair, strong and efficient financial system for all Australians."
ASIC is an independent Australian government body that acts as Australia's corporate regulator. ASIC's key function is to enforce and regulate company and financial services laws to protect Australian consumers and investors.
