Dubai agreement ‘of mutual benefit’

Wednesday 15th March 2006, 12:00AM GMT.

JERSEY’S financial services watchdog has cemented its relationship with the regulators in Dubai.

The memorandum of understanding was signed yesterday by David Carse, the director general of the Jersey Financial Services Commission, and David Knott, chief executive of the Dubai Financial Services Authority.

The new agreement sets out formally the arrangements for mutual cooperation and information sharing and recognises that both regulators rely on the quality of standards in each other’s jurisdiction.

Mr Carse said this was the latest in a number of agreements between the Commission and other international regulators, reflecting the Jersey authority’s commitment to cross-border cooperation.

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