SEBI in pact with regulators of four countries
11 Apr 2007
Mumbai:
Stock market regulator Securities and Exchange Board of
India (SEBI) will work in cooperation with its counterparts
in Thailand, Indonesia, Taiwan and Nigeria.
SEBI has signed memoranda of understanding (MoUs) to this
effect at the ongoing 32nd Annual Global Conference of
Market Regulators (IOSCO), a press release said.
Finance minister P Chidambaram will address the four-day
conference on April 11.
The MoUs cover regulatory cooperation, mutual assistance
and sharing of information with regulatory authorities
of Thailand and Nigeria, SEBI said.
"The MoUs have been signed to establish a general
framework for co-operation and consultation between the
regulatory authorities, in order to facilitate the fulfilling
of their regulatory responsibilities," the release
said.
SEBI chairman M Damodaran signed the MoU with the secretary-general,
Securities Exchange Commission (SEC), Thailand, Thirachai
Phuvanatnaranubala. The MoU with SEC, Nigeria was signed
by Sebi chairman and Musa Al-Faki, director-general, SEC,
Nigeria.
Regulatory
authorities from across the world are attending the IOSCO
Annual Conference.
The MoUs will facilitate mutual assistance, strengthening
of cross-border co-operation while improving efficiency
of the supervisory functions and make enforcement effective,
Sebi said.