SEBI signs MoU with Canada's Manitoba Securities Commission
- SEBI and MSC have entered into an agreement for mutual cooperation
- Union Cabinet approved the signing of a MoU
- It will strengthen cross border cooperation in the area of securities regulation
Markets regulator Securities and Exchange Board of India (SEBI) and Canada’s Manitoba Securities Commission (MSC) have entered into an agreement for mutual cooperation, exchange of information and technical assistance.
The development comes after Union Cabinet last week approved the signing of a memorandum of understanding (MoU) between the SEBI and Manitoba Securities Commission.
The MoU, which took effect on Wednesday, will strengthen cross border cooperation in the area of securities regulation, SEBI said in a statement.
This will enhance mutual assistance, contribute towards the efficient performance of the supervisory functions, support in providing technical domain knowledge, and enable effective enforcement of the laws and regulations governing the securities markets.
With the signing of this MoU, investors based in the province of Manitoba will become eligible to obtain registration as Foreign Portfolio Investors (FPIs) with SEBI.
The agreement was signed by SEBI chairperson Madhabi Puri Buch and David Cheop, Chief Executive Officer and Chairperson at MSC.
SEBI has signed bilateral MoUs with securities regulators of various jurisdictions. It is also a signatory to the multilateral MoU (MMoU) and enhanced MMoU (EMMoU) of the International Organization of Securities Commissions (IOSCO).
The Manitoba Securities Commission, a division of the Manitoba Financial Services Agency, is an independent agency of the Government of Manitoba that protects investors and promotes fair and efficient capital markets throughout the province. The Commission members deal with policy formulation, applications seeking an exemption or other special relief and perform a judicial function in the hearing of disciplinary proceedings brought under the several Acts or for the determination of applications.
The administrative arm of the Commission conducts the day-to-day operations including registrations, processing of applications and prospectuses, preparing matters for the referral to the Commissioners and conducting investigations, prosecutions and other hearings.