In brief

Singapore and Poland sign fintech agreement

THE Monetary Authority of Singapore (MAS) and the Polish Financial Supervision Authority (KNF) have signed a FinTech Co-operation Agreement which lays out a framework for cooperation and referrals between the two regulators. The framework enables both regulators to refer fintech companies to their counterparts in each other's country, and aims to support companies to better understand the regulatory regime in each jurisdiction.

In addition, the framework sets out how MAS and KNF plan to explore joint innovation projects together, as well as share information on emerging market trends and their impact on regulation. KNF chairman Marek Chrzanowski noted that Poland has a unique economic microclimate conducive to financial innovation, with a relatively large market and access to the rest of the European Union.