Union Cabinet approves for MoU between SEBI and FSRA Abu Dhabi

May 13, 2016 13:08 IST

The Union Cabinet chaired by Prime Minister Narendra Modi on 12 May 2016 gave its approval to Securities and Exchange Board of India (SEBI) to sign a Memorandum of Understanding (MoU) with Financial Services Regulatory Authority (FSRA), Abu Dhabi.

Key features of the MoU

• The MoU is for mutual co-operation and technical assistance between the two financial regulators.

• It will promote further development of economic links and cooperation between the two signatories

• It will help to create conditions for development of securities markets in the two countries.

• It would also contribute towards strengthening the information sharing framework between the two regulators.

Background

Apart from Abu Dhabi, SEBI also signed bilateral agreements with a number of countries which include Mauritius, Bangladesh et

SEBI is signing MoUs with different country’s financial jurisdictions who are not a signatory to the multilateral MoU of International Organisation of Securities Commissions (IOSCO).

 

SEBI is a signatory to global market regulators' grouping IOSCO's MoU which encourages the exchange of information and assistance

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