Malaysia’s Labuan Financial Services Authority (Labuan FSA) and the Bermuda Monetary Authority (BMA) have signed a memorandum of understanding (MoU) to bolster regulatory, enforcement, and supervisory collaboration. Virtually signed by Nik Mohamed Din Nik Musa of Labuan FSA and Craig Swan of BMA, the agreement focuses on strengthening ties in insurance and digital asset sectors. The MoU will streamline information exchange and investigative assistance, ensuring both bodies effectively fulfill their roles. The agreement is timely, responding to a global call for increased regulatory synergy, especially in digital assets and insurance. Both regions are key financial hubs, and this MoU is anticipated to enhance oversight and cooperation in these pivotal sectors, promoting financial stability and economic growth amidst the evolving global landscape.
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