The Japanese Financial Services Agency, or FSA, has signed a fintech letter of cooperation with Swiss regulators the Financial Market Supervisory Authority, the agencies announced yesterday.
The two letters are designed to deepen the relationship between the two countries in regards to fintech innovation; the letters pledge to share information in fintech with each respective regulatory body, as well as to refer different “financial innovators” to each other.
FSA writes in its letter:
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Given the global nature of innovation in financial services, it is particularly important that we are able to both share information, and ensure the efficient entry of financial innovators into our respective markets.