SEBI signs MoUs with SECs of Thailand and Nigeria

Mumbai, Apr 10 (UNI) The Securities and Exchange Board of India(SEBI) today signed memoranda of understanding (MoU) with the Securities and Exchange Commissions (SECs) of Thailand and Nigeria ''to ensure regulatory co-operation, mutual assistance an sharing of information with the market watchdogs of the respective countries'', here.

The MoUs were signed on the second day of the 32nd annual conference of the International Organisation of Securities Commissions (IOSCO).

SEBI Chairman M Damodaran signed the MoUs with Thirachai Phuvanatnaranubala, Secretary General, SEC, Thailand and Musa Al-Faki, Directoral General, SEC, Nigeria respectively.

''The signing of MoUs with the jurisdictions has been made to establish a general framework for co-operation and consultation between the regulatory authorities of the market regulators in order to facilitate the regulatory responsibilities,'' said Mr Damodaran while addressing the press after the signing ceremony.

Regulatory authorities from across the globe will have mutual discussions on various issues pertaining the economies like the strengthening of crossborder co-operation, interdependence of security markets, the need for closer co-operation of security authorities and also regarding the effective enforcement of the laws and regulations with the governing the markets, SEBI sources said.

Two more MoUs will be signed tomorrow with the capital market and financial institutions supervisory agency, Indonesia and the financial supervisory commission of Taiwan, said SEBI sources.

Finance Minister P Chidambaram will inaugurate the third day of the conference tomorrow.

UNI