Hanfa signs two new international Memoranda of Understanding related to the supervision of alternative investment funds

Published: 13 December 2021

The Croatian Financial Services Supervisory Agency (Hanfa) has signed two new international Memoranda of Understanding (MoUs) concerning consultation, cooperation and the exchange of information related to the supervision of entities referred to in the Alternative Investment Fund Managers Directive (AIFMD). The MoUs have been signed with the Australian Securities and Investments Commission and with Canadian regulators: Alberta Securities Commission, Autorité des marchés financiers (Québec), British Columbia Securities Commission and Ontario Securities Commission.

By signing the MoUs, Hanfa has established international cooperation with the above-mentioned regulators for the purpose of enhancing its supervisory performance, reaching an appropriate level of transparency, which includes an adequate level of consumer protection, and fostering long-term market confidence and financial stability of the system.

By signing the two new memoranda, Hanfa has concluded a total of nine MoUs under the AIFMD with twelve regulators from seven jurisdictions, namely:  

  1. Australian Securities and Investments Commission
  2. Canadian regulators: Alberta Securities Commission, Autorité des marchés financiers (Québec), British Columbia Securities Commission and Ontario Securities Commission - a joint MoU
  3. Guernsey Financial Service Commission
  4. Financial Services Agency of Japan
  5. Ministry of Agriculture, Forestry and Fisheries of Japan
  6. Ministry of Economy, Trade and Industry of Japan
  7. Astana Financial Services Authority (Kazakhstan)
  8. Financial Services Regulatory Authority of Abu Dhabi Global Market
  9. Qatar Financial Centre Regulatory Authority.

In view of the growing globalization of the world’s financial markets and the increase in cross-border operations and activities of alternative investment fund managers, the reaching of such memoranda has become an important part of international regulatory cooperation and activities. Moreover, they enable fund managers in non-EU countries to manage alternative investment funds and offer their units to professional investors in the EEA under the AIFMD.