Apr 13:The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the signing of the Bilateral Memorandum of Understanding between the Securities and Exchange Board of India and Manitoba Securities Commission, Canada.
- The MoU, inter alia, seeks a formal basis for cross-border cooperation in the area of securities regulations, would facilitate mutual assistance, contribute towards the efficient performance of supervisory functions, aid in imparting technical domain knowledge and enable effective enforcement of the laws and regulations governing securities markets.
- The MoU would also make investors from Manitoba eligible for registration as an FPI with SEBI.
Entities located in the province of Manitoba, Canada are desirous of registration as Foreign Portfolio Investor (FPI) with SEBI, for which one of the pre-conditions is that the securities market regulator of a foreign country/province should be a signatory to the International Organization of Securities Commissions’ Multilateral Memorandum of Understanding (IOSCO MMoU), signing a bilateral MoU with SEBI is essential for permitting entities from Manitoba to be registered as FPI with SEBI. Around twenty Manitoba-=domiciled FPIs with total Assets Under Custody of Rs.2,665 crore are expected to benefit from the signing of this bilateral MoU and would be eligible to continue investing in the Indian markets.Disclaimer: We donot claim that the images used as part of the news published are always owned by us. From time to time, we use images sourced as part of news or any related images or representations. Kindly take a look at our image usage policy on how we select the image that are used as part of the news.