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Friday, 13 May 2016

Union Cabinet approves for MoU between SEBI and FSRA Abu Dhabi

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 Now get latest Current Affairs on mobile, Download # 1 Current Affairs App

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