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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Categories: Business & Economy Current Affairs 2017India Current Affairs 2017

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