facebook.com/Outlookindia twitter.com/outlookindia digimag.outlookindia.com instagram.com/outlookindia youtube.com/user/OutlookMagazine

SEBI Got 94 Requests of Assistance From Foreign Peers in FY'14

India's capital markets watchdog Sebi received as many as 94 requests from overseas securities regulators for information during 2013-14 -- more than double of what it had got in each of the two preceding fiscal years.

The Securities and Exchange Board of India (Sebi) had received 40 requests from foreign peers in 2012-13, while it had got 37 requests in 2011-12, as per the market regulator's latest annual report.

At the same time, Sebi had made 17 requests to capital markets regulators in other countries for information in 2013-14 as against 9 requests in the previous financial year. This is the highest number of requests sent out by the Indian market watchdog since 2011-12.

The capital market regulator had sent out 9 requests each for regulatory assistance in 2011-12 and 2012-13 to foreign securities market watchdogs.

Sebi has in place a robust system for information sharing and coordination with foreign regulators to nab manipulators and fraudsters operating across boundaries in a globalised world.

In 2003, Sebi had signed the International Organisation of Securities Commissions (IOSCO) multi-lateral memorandum of understanding (MMoU) for mutual assistance on enforcement and compliance of regulations with several countries including Securities Exchange Commission of US.

One of the IOSCO principles require the regulators to establish information sharing mechanisms, which set out when and how they will share both public and non-public information with their domestic and foreign counterparts.

"As a crucial part of its commitment towards the IOSCO MMoU concerning consultation and cooperation and the exchange of information, to which Sebi has been a signatory since April 2003, Sebi provides cooperation and facilitates exchange in other jurisdictions," the market regulator said in the report.

READ MORE IN:
TAGS: SEBI
SECTION: Business
OUTLOOK 18 August, 2014
© Copyright PTI. All rights reserved. Republication or redistribution of any PTI content, including by framing or similar means, is expressly prohibited without their prior written consent.
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store

Post a Comment

You are not logged in, please Log in or Register
  • Daily Mail
THE LATEST ISSUE
CLICK IMAGE FOR CONTENTS
OUTLOOK ON TWITTER
POLLS

The cricket icon is reported to have tried to curry favour with Defence Minister Parrikar for a friend's property adjoining defence land in Mussoorie. Parrikar is said to have declined to help. The recipient of India's top honour is also busy endorsing various products. Is India's legendary batsman insulting the Bharat Ratna, which was given to him after amending rules?

POLL STARTED ON: Jul 19, 2016
Quiz
Ramzan is the month of intense prayer, dawn-to-dusk fasting and nightly feasts for millions of Muslims to commemorate the first revelation of the Quran to the Prophet Muhammad. As the world celebrates Eid al-Fitr to mark the end of Ramzan, take this quiz to find out how well you know it. Eid Mubarak!
QUIZ STARTED ON: Jul 06, 2016