SEBI signs pact with Kazakhstan’s AFSA for mutual co-operation 

Markets regulator SEBI (Securities and Exchange Board of India) has signed a bilateral memorandum of understanding (MoU) with Kazakhstan-based Astana Financial Services Authority (AFSA) for mutual co-operation and technical assistance. The MoU was signed by SEBI Chairman Ajay Tyagi and the acting chief executive officer (CEO) of AFSA Mukhtar Bubeyev.

Key Highlights

The objective of pact is to strengthen cross border co-operation in area of securities regulation. Besides facilitating mutual assistance, this co-operation will further contribute towards efficient performance of supervisory functions, as well as enable effective enforcement of laws and regulations governing the securities markets.

SEBI has signed bilateral MoUs with securities regulators of a number of jurisdictions. It is also a signatory to multilateral MoU of International Organisation of Securities Commissions (IOSCO), an association of national securities regulatory commissions that regulate world’s securities and futures markets.

About Securities and Exchange Board of India (SEBI)

It is responsible for regulating Securities market in India. It was first established in 1988 as a non-statutory body for regulating securities market and was given Statutory Powers on 30 January 1992 through Securities and Exchange Board of India (SEBI) Act, 1992.

Month: Current Affairs - December, 2019