Sebi Signed an Agreement with Mongolia

BANKING AND ECONOMY

  • The Union Cabinet approved the proposal for signing a bilateral Memorandum of Understanding (MoU) between the Securities and Exchange Board of India (SEBI) and the Financial Regulatory Commission, Mongolia (FRC).
  • The MoU proposed was in addition to contributing towards strengthening the information sharing framework leading to effective enforcement of securities laws.
  • Like SEBI, FRC is a co-signatory to the International Organization of Securities Commissions' Multilateral MoU (IOSCO MMoU).
  • FRC was established in 2006 to supervise and regulate the non-banking sector - insurance and securities markets, and participants of the microfinance sector.

Facts to know:

 

  • The International Organization of Securities Commission (IOSCO) was established in 1983.
  • Headquarters of IOSCO: Madrid, Spain.
  • IOSCO Asia Pacific Hub is located in Kuala Lumpur, Malaysia.
Securities and Exchange Board of India
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