MoU's will facilitate information exchange, says Damodaran

Mumbai, Apr 10 (UNI) The MoUs signed with Thailand and Nigeria at the annual conference of the International organisation of securities commissions (IOSCO) today, will appear as an ''effective move'' to facilitate the much important information exchange among the market watchdogs, M Damodaran, chairman of the Securities and exchange board of India, said here.

''The mutual exchange of information with the Thai and Nigerian regulators, countries which are prominent in their respective regions, was essential in the backdrop of the increasing internationalization and interdependance of security markets across the globe. The MoUs signed will ensure the mutual assistance between the regulators of these jurisdictions.'', Damodaran told reporters.

Musa Al-Faki, director general of the security and exchange commission (SEC) of Nigeria, was also optimistic over the new development among the market regulators.

''The agreement will enable the two jurisdictions to consult each other and also to fulfil their regulatory responsibilities.'', Al-Faki said after signing the MoU.

UNI