Financial authorities from Australia and Luxembourg have entered into a cooperation agreement to promote innovation in financial services.

The Australian Securities and Investments Commission and the Luxembourg Commission de Surveillance du Secteur Financier have signed an agreement, which provides a framework for information sharing on financial technology and regulatory technology, according to an Oct. 4 filing.

In 2013, the authorities signed memoranda of understanding on regulating entities with presence in both Australia and Luxembourg, specifically for funds management entities regulated under the EU's Alternative Investment Fund Managers Directive.