New Delhi, October 12: With an aim to strengthen the information sharing framework, mutual co-operation the central government on Wednesday approved the signing of pacts by markets regulator Securities and Exchange Board of India (SEBI) with its counterparts Capital Markets Authority (CMA) in Gibraltar and Kuwait.
Notably, the Union Cabinet chaired by Prime Minister Narendra Modi has given its approval for signing of a MoU by Securities and Exchange Board of India (SEBI) with Capital Markets Authority (CMA), Kuwait for mutual co-operation and technical assistance.
The agreements will strengthen the mutual information sharing framework and add value to overseas mutual cooperation and regulation activities of SEBI and CMA, Kuwait. The agreement will also promote further development of economic links and cooperation between the two regulators, and aims at creating conditions for an effective development of securities markets in the two countries.
Apart from Gibraltar and Kuwait, SEBI has already signed bilateral MoUs with the number of countries. In order to encourage the exchange of information and assistance, SEBI has been signing pacts with jurisdictions which are yet to become signatories to the multilateral MoU of International Organisation of Securities Commissions.