The FCA has entered into a co-operation agreement with  the Monetary Authority of Singapore (MAS) to provide a framework for co-operation and referrals between the innovative functions of each authority. The agreement sets out how the FCA and MAS will share and use information on financial serivces innovation in their respective markets. The aim of the agreement is to enable the regulators to refer FinTech firms to their counterparts across the globe. The FCA entered into a co-operation agreement with the Australian Securities and Investments Commission (ASIC) relating to innovation hubs in March 2016.