Indian capital markets regulator Sebi and Canada’s Manitoba Securities Commission (MSC) have entered right into a pact for mutual cooperation, trade of data and technical help. The transfer comes after the Union Cabinet final week authorised the signing of a memorandum of understanding (MoU) between the Securities and Exchange Board of India (Sebi) and Manitoba Securities Commission.
The MoU, which took impact on Wednesday, will strengthen cross border cooperation within the space of securities regulation, Sebi stated in a press release. This will facilitate mutual help, contribute in the direction of the environment friendly efficiency of the supervisory features, support in imparting technical area data, and allow efficient enforcement of the legal guidelines and laws governing the securities markets.
The signing of this MoU will even make traders based mostly within the province of Manitoba eligible to acquire registration as Foreign Portfolio Investors (FPIs) with Sebi. The settlement was signed by Sebi chairperson Madhabi Puri Buch and David Cheop, Chief Executive Officer and Chairperson at MSC. Sebi has signed bilateral MoUs with securities regulators of varied jurisdictions. It can also be a signatory to the multilateral MoU (MMoU) and enhanced MMoU (EMMoU) of the International Organization of Securities Commissions (IOSCO).
Source: www.financialexpress.com”