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.
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
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App
Who: Union Cabinet
When: 12 May 2016