Union Cabinet approves for MoU between SEBI and FSRA Abu Dhabi
The Union Cabinet has given its approval to Securities and Exchange Board of India (SEBI) to sign a MoU with Financial Services Regulatory Authority (FSRA), Abu Dhabi.
The MoU is for mutual co-operation and technical assistance between the two financial regulators of both countries.
Key facts
- The MoU seeks to promote further development of economic links and cooperation between the SEBI and FSRA.
- It will also help to create conditions for development of securities markets in the two countries.
- It would also facilitate towards strengthening the information sharing framework between the two regulators.
Background
- SEBI signs MoUs with different country’s financial jurisdictions who are not a signatory to the multilateral MoU of International Organisation of Securities Commissions (IOSCO).
- IOSCO’s MoU encourages the exchange of information and assistance between signatory parties. SEBI is a signatory to global market regulators’ grouping IOSCO’s MoU.
- So far SEBI has signed bilateral agreements with a number of countries including Mauritius, Bangladesh etc.
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Month: Current Affairs - May, 2016