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The Union Cabinet on Wednesday gave its nod for SEBI to enter into two separate memoranda of understanding (MoU) with securities market regulators of the European Union and Iran.
These MoUs are expected to strengthen cooperation between India and the respective countries on matters pertaining to securities market.
In the case of the European Securities and Markets Authority (ESMA), the MoU is likely to establish cooperation arrangements as a precondition for ESMA to recognise Central Counter Parties (CCPs) established in India and supervised by the Securities and Exchange Board of India to provide clearing services to clearing members or trading venues established in the European Union and to provide ESMA with adequate tools to monitor the ongoing compliance by the covered CCPs with the recognition conditions.
The MoU with the Securities and Exchange Organisation (SEO), Iran, is likely to 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. It would also contribute to strengthening the information sharing framework between the securities market regulators of the two countries.
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