The Hindu Business Line : SEBI signs MoU with Russian Federal Financial Markets Service

New Delhi, Dec. 5 The Securities and Exchange Board of India (SEBI) has signed a memorandum of understanding with the Federal Financial Markets Service of Russian Federation (FFMS) here on Friday.

The memorandum of understanding related to mutual co-operation and information sharing between the two regulatory bodies.

It was signed by Mr C.B. Bhave, Chairman, SEBI, and Mr Vladmir Milovidov, Head, FFMS, Russia, in the presence of the Prime Minister, Dr Manmohan Singh, and the President of Russian Federation, Mr Dmitry Medvedev.

The memorandum of understanding was signed to establish a general framework for co-operation and consultation and mutual assistance between the regulatory authorities in order to fulfil their regulatory responsibilities.

Including this memorandum, SEBI has signed bilateral memorandums of understanding with 16 jurisdictions and a letter of intent for mutual co-operation with Securities and Futures Commission, Hong Kong.

Meanwhile, an agreement was also signed for co-operation in the sphere of counteracting legalisation (laundering) of proceeds from crime.

The agreement was signed between Mr Arun Goyal, Director, Financial Intelligence Unit of India, and Mr Y.A. Chikhanchin, Head of Federal Financial Monitoring Service of Russian Federation.

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