SEBI signs Memorandum of Understanding with Emirates Securities and Commodities Authority

Securities and Exchange Board of India (SEBI) has signed a bilateral Memorandum of Understanding (MoU) with the Emirates Securities and Commodities Authority (ESCA).

The Memorandum of Understanding was signed in New Delhi today by Mr. M. Damodaran, Chairman, SEBI and Mr. Abdullah S. Al Turaifi, Chief Executive Officer of ESCA, in the presence of Hon’ble Prime Minister of India, Dr. Manmohan Singh and Vice-President and Prime Minister of UAE and Ruler of Dubai, H.H. Sheikh Mohammed bin Rashid Al Maktoum.

The MoU will promote co-operation between the jurisdictions towards fostering a common understanding of the regulatory issues and co-operation, particularly in matters relating to cross-border trading and supervision of investment products.

In the past, SEBI has signed similar MoUs with a number of countries. India is a signatory to multi-lateral MoU of International Organization of Securities Commissions (IOSCO). In order to encourage the exchange of information and assistance, SEBI has been signing MoUs with the jurisdictions who are yet to become the signatory to multi-lateral MoU of IOSCO.

Source : Equity Bulls

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