SEBI in pact with regulators of four countries

11 Apr 2007

1

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.


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