Date:11/04/2007 URL: http://www.thehindubusinessline.com/2007/04/11/stories/2007041104631500.htm

Back SEBI signs MoU with Thailand, Nigeria market regulators

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JOINING HANDS: Mr M. Damodaran, Chairman, SEBI, with Mr Musa Al-Faki, Director- General, SEC, Nigeria, and Mr Thirachai Phuvanatnaranubala, Secretary-General, SEC, Thailand, after the signing of memoranda of understanding with securities market regulators of Thailand and Nigeria in Mumbai on Tuesday. - Paul Noronha

Mumbai April 10 The Securities and Exchange Board of India on Tuesday signed bilateral Memoranda of Understanding with two securities markets regulatory authorities — the Securities and Exchange Commission of Thailand (SEC, Thailand) and the Securities and Exchange Commission of Nigeria (SEC, Nigeria).

The MoUs will help in regulatory co-operation, mutual assistance and sharing of information with these exchanges.

The MoU with SEC, Thailand, was signed by the SEBI Chairman, Mr M. Damodaran, and Mr Thirachai Phuvanatnaranubala, Secretary-General, SEC, Thailand, while the MoU with SEC Nigeria was signed by the SEBI chairman and Mr Musa Al-Faki, Director-General, SEC, Nigeria.

"India is one of the early signatories of the multilateral MoUs with regulators of various countries. We have signed bilateral MoUs with countries which are not signatories of the multilateral MoU, to enhance the flow of information on either side and increase regulatory co-operation," said Mr Damodaran.

Recently, SEBI had signed bilateral MoUs with the regulators of the UAE, China and Hong Kong.

The MoUs were signed at the 32nd IOSCO (International Organisation of Securities Commissions) Annual Conference hosted by SEBI in Mumbai, where regulatory authorities from across the world are meeting to deliberate on securities market regulations.