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Regulation of financial markets: Monaco signs an agreement for cooperation and exchange of information with Germany

Le mardi 3 juin 2008 -



The Principality’s Financial Activities Audit Committee (CCAF) has just signed a cooperation agreement with its German counterpart, the FaFin (Bundesantalt für Finanzdiensteistungsaufsicht).

This is the first bilateral agreement signed by the CCAF as an independent administrative authority and will enable information to be exchanged between the two entities within the context of monitoring financial markets. Information is exchanged on a basis of reciprocity and the information transferred can only be used for the purposes for which it was communicated.

Five bilateral agreements are now in place with: the French regulator (AMF) since March 2002, the Italian audit authority (CONSOB) since November 2003, the Luxembourg monitoring authority (CSSF) since June 2004, the Belgian regulator (CBFA) since March 2005 and now the German authority. Discussions with other regulators are currently underway, including Switzerland and the United Kingdom.

For Christian de Boissieu, CCAF President, this agreement with a major country of the European Union “confirms the Committee’s intent to be completely open to international cooperation, in particular via the bilateral agreement channel with its foreign counterparts”.



For further information:
Jean Castellini
Secretary General
Financial Activities Auditing Board
4, rue des Iris – MC 98000 Monaco
Tel. +377 98 98 43 59
Website: www.ccaf.mc
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