The Cayman Islands Monetary Authority has recently signed a memorandum of understanding with the China Securities Regulatory Commission.

The MOU is designed to improve the exchange of supervisory information and cross-border co-operation in enforcement cases with regards to Cayman Islands registered companies, which carry out public securities offerings in China and/or whose securities are trading on China’s stock exchange. The signing took place on 5 November but the regulators are announcing it now.

The agreement also allows non-Chinese companies to obtain permission from the CSRC to invest in the Chinese capital markets. Other jurisdictions in competition with the Cayman Islands such as Dubai, Hong Kong, Guernsey and Jersey, have all signed MOUs with the CSRC.

To date, CIMA has signed 56 bilateral agreements and 6 multilateral agreements with regulatory authorities around the world.