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    Question

    IFSCA has partnered with _______ to pursue Cross-border FinTech Innovations.

    A Monetary Authority of Singapore Correct Answer Incorrect Answer
    B Monetary Authority of Macao Correct Answer Incorrect Answer
    C Monetary Authority of Japan Correct Answer Incorrect Answer
    D Royal Monetary Authority of Bhutan Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Monetary Authority of Singapore (MAS) and the International Financial Services Centres Authority (IFSCA) signed a FinTech Co-operation Agreement (CA) to facilitate regulatory collaboration and partnership in FinTech.The CA will promote the following:

    •    Regulatory Sandbox Collaboration – MAS and IFSCA will leverage existing regulatory sandboxes in their respective jurisdictions to support experimentation of technology innovations. This includes referral of companies to each other’s regulatory sandboxes and enable innovative cross-border experiments in both jurisdictions.
    •    Sharing of Information – MAS and IFSCA will share non-supervisory related information and developments on innovation in financial products and services, facilitate discussions on emerging FinTech issues and participate in joint innovation projects.

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