The Union Cabinet recently gave its nod for Securities and Exchange Board of India (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 Securities and Exchange Board of India was established on April 12, 1992, in accordance with the provisions of the Securities and Exchange Board of India Act, 1992.
- Ajay Tyagi has been appointed as the chairman of SEBI in February 2017.
Source- The Hindu Business Line