The Securities and Exchange Board of India (Sebi) and the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) have entered into a bilateral memorandum of understanding for mutual cooperation and technical assistance.
The MoU was signed by Sebi whole time member S Raman and FSRA chief executive officer Richard Teng on August 24, 2016 in Abu Dhabi.
The bilateral MoU provides a framework for regulatory cooperation between the two authorities for enforcement and ensuring compliance with their respective laws and regulations. The MoU will also enable the jurisdictions to consult with each other to establish and implement technical assistance programmes, the Sebi said.
The Sebi has now signed 22 bilateral MoUs with the regulators of various jurisdictions, and is also a signatory to the multilateral MoU of International Organisation of Securities Commissions (IOSCO).
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