ASIC signs MoU with Croatia

The Croatian Financial Services Supervisory Agency (CFSSA) and the Australian Securities and Investments Commission (ASIC) have signed a new memorandum of understanding (MoU) regarding mutual assistance in the supervision and oversight of managers of alternative investment funds.

This was regarding their willingness to cooperate with each other in the interest of fulfilling their respective regulatory mandates, particularly in the areas of investor protection, fostering market and financial integrity, and maintaining confidence and systemic stability.

In particular, through the MoU both agencies would work together in the supervision and oversight of managers of alternative investment funds that operate on a cross-border basis, and the entities they delegate functions to or that hold securities on their behalf.

The Australian regulator said that this MoU would complement the 29 other supervisory cooperation arrangements ASIC entered into with EU securities regulators in 2013, agreeing to help each other supervise alternative investment fund managers operating across borders.