Sebi got 94 requests of assistance from foreign peers in FY14

Tags: Stock Market
India's capital markets watchdog Sebi received as many as 94 requests from overseas securities regulators for information during 2013-14 -- more than double of what it had got in each of the two preceding fiscal years.

The Securities and Exchange Board of India (Sebi) had received 40 requests from foreign peers in 2012-13, while it had got 37 requests in 2011-12, as per the market regulator's latest annual report.

At the same time, Sebi had made 17 requests to capital markets regulators in other countries for information in 2013-14 as against 9 requests in the previous financial year. This is the highest number of requests sent out by the Indian market watchdog since 2011-12.

The capital market regulator had sent out 9 requests each for regulatory assistance in 2011-12 and 2012-13 to foreign securities market watchdogs.

Sebi has in place a robust system for information sharing and coordination with foreign regulators to nab manipulators and fraudsters operating across boundaries in a globalised world.

In 2003, Sebi had signed the International Organisation of Securities Commissions (IOSCO) multi-lateral memorandum of understanding (MMoU) for mutual assistance on enforcement and compliance of regulations with several countries including Securities Exchange Commission of US.

One of the IOSCO principles require the regulators to establish information sharing mechanisms, which set out when and how they will share both public and non-public information with their domestic and foreign counterparts.

"As a crucial part of its commitment towards the IOSCO MMoU concerning consultation and cooperation and the exchange of information, to which Sebi has been a signatory since April 2003, Sebi provides cooperation and facilitates exchange in other jurisdictions," the market regulator said in the report.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The current value of the rupee does not merit market intervention

    The rupee, losing 40 paise per month against the dollar since May, is expected to remain under pressure till the calendar runs out on December 31, bef

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture