The HFSA ensures the reliable, continuous and transparent operation of the financial markets thereby protecting the legitimate interests of market participants, actively participating in elimination of financial crime and supporting the reduction of consumers' risks by providing access to adequate information. In relation with the responsibilities of the GVH, the task of the HFSA is to promote the development of financial markets based on fair competition.
The aim of the agreement is to strengthen cooperation between the two authorities through information exchange about proceedings, the organisation of consultations, collaboration in sectoral supervision in the field of competition and markets. Furthermore the parties have agreed, that they mutually adjust their standpoints and support each other during the work in international organisations (e. g. in the OECD and in European bodies). This cooperation promotes fair competition and strengthens confidence in financial markets.