TNAG-2499-FCO40-3637-Relations-between-Hong-Kong-and-the-UK-1992 — Page 4

16 April 1992

BY FAX

S E Bradley Esq DPA

HONG KONG

CONFIDENTIAL

Foreign & Commonwealth

Office

London SWIA 2AH

HKC 020/6

Telephone: 071-

Dear Stephin,

CM

UK/HONG KONG MOU ON INTERNATIONAL REGULATORY COOPERATION

1. Graeme Reid of DTI called on us after his recent visit to Hong Kong. He had held discussions with the SFC, MAB and International Law Division about strengthening cooperation on business regulation between the DTI and the SFC. We understood he handed over a model MOU on International Regulatory cooperation.

2. We should be grateful to know what your thinking is on this sort of cooperation. Do the SFC wish to enter into these sort of arrangements with any other countries (I understand the UK has them with Switzerland and the US)? so would it be advisable to discuss this subject with the Chinese (in the JLG?) or, since no International Rights and Obligations are involved should it be solely a matter for the

SFC?

3. A related matter concerns the newly established stock markets in Shenzhen and Canton. It would be interesting to know what the SFC's intentions are with cross border cooperation on these.

with

Yous ever, Rod

If

RAJ Bunten

Hong Kong Department

cc: A R Paul Esq, UKREP JLG

C J Newall, International Law Division AGC, Hong Kong

RB3ACC

SLM

CONFIDENTIAL