On 1 September 2021, the Financial Services Commission (FSC) signed the Administrative Arrangement (“AA") for the transfer of personal data between European Economic Area (“EEA") Authorities and non-EEA Authorities, and was subsequently added to the Master List of Appendix B signatories published on the International Organization of Securities Commissions (“IOSCO") website.

Under the AA, cross-jurisdictional exchange of information will be made more secure. As such, it will act as a supplement to the IOSCO Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (“MMoU"), Enhanced MMoU and other arrangements.

Through the signature of the AA, the FSC reiterates its commitment to adhere to international standard pertaining to data protection.

Access the full communique from the FSC here